U.S. lifts restrictions on ethane exports to China — Reuters

The United States has removed restrictions on ethane exports to China, allowing American companies to load the natural gas component used in plastics production onto vessels bound for Chinese ports, Reuters reported.

While U.S. firms have received permission from the Commerce Department to ship ethane, offloading in China will still require separate U.S. government approval, the agency noted.

Washington had imposed licensing restrictions on ethane exports to China in June, but their removal signals progress in resolving trade tensions between the two countries.

Roughly half of U.S. ethane exports are typically destined for China. At least eight ethane tankers are currently en route to China from the Gulf Coast, Reuters added.