๐จ ASIAโS CRUDE IMPORTS REBOUND TO 7-MONTH HIGH ๐ข๏ธ๐
Asia is set to import 23.96M barrels/day of crude in September โ the highest level since February, before the Iran war disrupted Middle East supply.
๐น September: 23.96M bpd
๐น August: 23.38M bpd
๐น Imports still ~13% below pre-war levels
๐น Strait of Hormuz flows have recovered from AprilโMay lows
๐น China August imports: 8.93M bpd, +6.2% MoM
๐น China remains ~2M bpd below pre-war levels
๐น Brent hovering around $100/barrel
๐จ๐ณ China demand could remain capped: Goldman Sachs expects Chinese crude imports to rise only around 600K bpd in Q4 vs Q3 if high oil prices persist.
๐ The big question: Is Asiaโs crude demand recovery strong enough to push oil prices higher โ or will $100+ oil limit imports?
Trade Here ๐ $HMSTR | $PLUME | $UNI
My call. Your execution.
โ ๏ธ DYOR & manage risk.
#AIStocksWhatNext #21SharesLaunchesEuropesFirstZcashETP #CardanoJoinsX402PaymentStandard #StreamerClub #Write2Earn
Asia is set to import 23.96M barrels/day of crude in September โ the highest level since February, before the Iran war disrupted Middle East supply.
๐น September: 23.96M bpd
๐น August: 23.38M bpd
๐น Imports still ~13% below pre-war levels
๐น Strait of Hormuz flows have recovered from AprilโMay lows
๐น China August imports: 8.93M bpd, +6.2% MoM
๐น China remains ~2M bpd below pre-war levels
๐น Brent hovering around $100/barrel
๐จ๐ณ China demand could remain capped: Goldman Sachs expects Chinese crude imports to rise only around 600K bpd in Q4 vs Q3 if high oil prices persist.
๐ The big question: Is Asiaโs crude demand recovery strong enough to push oil prices higher โ or will $100+ oil limit imports?
Trade Here ๐ $HMSTR | $PLUME | $UNI
My call. Your execution.
โ ๏ธ DYOR & manage risk.
#AIStocksWhatNext #21SharesLaunchesEuropesFirstZcashETP #CardanoJoinsX402PaymentStandard #StreamerClub #Write2Earn
