China’s third-quarter GDP expanded at its slowest pace in a year, driven by weak domestic demand and softer exports, highlighting the strain from ongoing trade tensions. The World Trade Organization warned last week that prolonged U.S.-China decoupling could reduce global output by as much as 7% over time.
Tensions have escalated in recent weeks, with both nations imposing new port fees on bilateral shipments, a move analysts say could disrupt freight flows and dampen trade activity between the world’s two largest energy consumers.
Geopolitical uncertainty also persists over Russian oil flows. President Donald Trump reiterated Sunday that Washington would maintain tariffs on India unless it halts Russian imports. Meanwhile, U.S. and European officials are pressing Asian buyers to scale back purchases from Moscow, a move that could redirect cheaper barrels toward China.
On the supply front, U.S. drillers added oil and gas rigs last week for the first time in three weeks, according to Baker Hughes, hinting at a potential rebound in American output as global demand weakens.
