Focus points:
- US trade policies – tariffs & licences: Canada and Mexico; Chinese retaliatory tariffs; export licences for ethane & butane
- Shipping: OFAC sanctions on specific vessels and Chinese infrastructure; US Trade Representative’s (USTR) port fees on China-built and China-operated vessels & looming SHIPS for America Act
- Geopolitics: US approach towards Russia-Ukraine war, playing hardball with Venezuela, Yemen & effects on Bab-el-Mandeb transit, Iran policy
- US domestic policies affecting GDP & oil demand outlook
