Key Currency Exchange Rates for Friday, 4/20/18

American Dollar to Canadian Dollar = 0.778025; American Dollar to Chinese Yuan = 0.148415; American Dollar to Euro = 1.019709; American Dollar to Japanese Yen = 0.007476; American Dollar to Mexican Peso = 0.049361.

California will block the transportation through its state of petroleum from new offshore oil rigs, officials told Reuters on Wednesday, a move meant to hobble the Trump administration’s effort to…

Oil is struggling to regain the highs of January after a sell-off in global equities seeped into crude markets earlier this month. Surging U.S. production continues to challenge efforts by the Organization of Petroleum Exporting Countries and its friends to alleviate a global oversupply, with forecasts pointing to record output from the Permian shale basin. “Prices are vulnerable to the downside over the coming months,” said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. “Though the market likes OPEC and its allies’ show of unity, we still need to see how U.S. shale companies will react on higher prices and eventually offset all the efforts of OPEC and others to reduce inventories.” The increase in U.S. production is not “a blip,” Brouillette said. “We are optimistic about 2019 and 2020 too.” Click Read More below for additional information.