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Tag: Tensions

Crude oil prices rebound as market tensions ease

Crude oil prices rebound as market tensions ease

Business
Aug. 17 (UPI) -- Fading global trade and geopolitical concerns brought the price of crude oil back into positive territory on Friday, but look to finish the week lower. Brent crude oil prices lost more than 2 percent on Wednesday after the U.S. government reported a build in domestic crude oil inventories. Broader economic concerns were triggered earlier in the week when U.S. President Donald Trump turned his trade ire on NATO ally Turkey. So far, however, the Turkish economy has been able to weather the storm. Following a contentious summer of tit-for-tat trade action, meanwhile, the Chinese government said it was gearing up for economic talks with the United States later this month. "While oil holds the 200-day moving average, after a major seasonal sell-off, the concerns about a seriou...
G7 commits to 'rules-based trading system' despite tensions with US

G7 commits to 'rules-based trading system' despite tensions with US

World
Media playback is unsupported on your device All the G7 nations have agreed at their summit in Canada on the importance of a "rules-based trading system", despite tensions with the US.The joint statement signed by US President Donald Trump and his counterparts comes amid a row over high US tariffs imposed this month on steel and aluminium imports.The EU and Canada have taken steps to retaliate.Mr Trump says tariffs are needed to reverse America's trade deficit.Soon after the joint statement was announced, the US president tweeted defiantly about not allowing "other countries to impose massive tariffs and trade barriers on its on farmers, workers and companies".The G7 summit, held in La Malbaie, Quebec province, also covered such issues as rel...
U.S. Navy reactivates Second Fleet amid Russia tensions

U.S. Navy reactivates Second Fleet amid Russia tensions

Business
May 5 (UPI) -- With tensions between NATO and Russia rising, the U.S. military is resurrecting a fleet to patrol the Atlantic Ocean and help respond to global contingencies.The U.S. Second Fleet will provide forces along the U.S. coast and in the northern Atlantic Ocean, according to Chief of Naval Operations, Adm. John Richardson, who made the announcement Friday during a change of command ceremony in Norfolk, Va."Our National Defense Strategy makes clear that we're back in an era of great power competition as the security environment continues to grow more challenging and complex," Richardson said. "That's why today, we're standing up Second Fleet to address these changes, particularly in the north Atlantic."Russian submarine activity is at its highest levels since the Cold War, accordin...
Robert Kraft to discuss tensions with Bill Belichick, Tom Brady after season

Robert Kraft to discuss tensions with Bill Belichick, Tom Brady after season

Sports
The three men most responsible for turning the New England Patriots into a perennial power will wait until after the season to settle any differences, according to a report Saturday. Patriots owner Robert Kraft will sit down with head coach Bill Belichick and quarterback Tom Brady to "clear the air" of any lingering tensions, Ian Rapoport of the NFL Network reported. Reigning Super Bowl champion New England was set to host the Tennessee Titans on Saturday night in an AFC divisional round playoff game. The report comes a week after the Patriots denied there was friction among the trio, which reportedly stemmed from a dispute over the trade of backup quarterback Jimmy Garoppolo to San Francisco earlier this season. According to ESPN, which cited unnamed sources, Belichick was furious and dem...
Tensions high in run-up to Catalonia independence vote

Tensions high in run-up to Catalonia independence vote

World
Sept. 29 (UPI) -- Tensions continued to run high with Spain's national government pledging to block Sunday's planned independence referendum in Catalonia.Last week, Spain's national police confiscated 9 million ballots from a warehouse outside Barcelona that Catalonian officials had planned to use to carry out a controversial independence referendum set for Sunday.The dramatic turn of events, first reported by Catalan News, was an opening salvo by the Spanish government to prevent what it regards as an illegal vote from taking place. The government has ordered police and the Guardia Civil, or Spanish Civil Guard, to confiscate all election-related materials, including the actual ballot boxes. Polling supervisors have been threatened with fines of up to 300,000 euros if they help facilitate...