Free Trial
OIL PRODUCTS

US Gasoline Imports From EU Lowest Since 2020

SONIA

Options: Strangle Buyer

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Iran’s Crude Exports at 9-Month High in October

OIL

Iran’s crude exports in October have risen to the highest level since January, driven by Chinese buying and more crude availability for exports, Vortexa data show.

  • Iran exported 1mbpd of crude in October 2022, up by 300kbpd on the month and 100kbpd above the 12-month average.
  • Higher exports were driven by discounted prices compared to other regions, which supported Chinese buying.
  • Strikes at Iran’s Abadan refinery and the planned partial maintenance of the Isfahan refinery has meant more Iranian crude has been available for export, rather than domestic consumption.
  • Exports were also aided by the addition of two non-NITC VLCCs to the Iranian trade and a NITC VLCC departed from floating storage and partially loaded again.
  • Iran saw its first month on month onshore crude inventory stock build since May. Stocks were at 97.8mbbls in October, 1mbbls higher on the month.

Keep reading...Show less
142 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Iran’s crude exports in October have risen to the highest level since January, driven by Chinese buying and more crude availability for exports, Vortexa data show.

  • Iran exported 1mbpd of crude in October 2022, up by 300kbpd on the month and 100kbpd above the 12-month average.
  • Higher exports were driven by discounted prices compared to other regions, which supported Chinese buying.
  • Strikes at Iran’s Abadan refinery and the planned partial maintenance of the Isfahan refinery has meant more Iranian crude has been available for export, rather than domestic consumption.
  • Exports were also aided by the addition of two non-NITC VLCCs to the Iranian trade and a NITC VLCC departed from floating storage and partially loaded again.
  • Iran saw its first month on month onshore crude inventory stock build since May. Stocks were at 97.8mbbls in October, 1mbbls higher on the month.

Keep reading...Show less