November 20, 2024 16:40 GMT
MNI Commodity Weekly: China Crude Import Surge Highlights Opportunistic Buying
OIL
Executive summary:
- China Crude Import Surge Highlights Opportunistic Buying: Chinese crude imports look set to ramp higher in November but appear more indicative of cheaper buying in September while a new U.S. administration looks to already dissuade some refiners from Iranian barrels.
- Oil Markets: Crude futures prices steadied after a rally to a high of $73.93/bbl this week while implied volatility has fallen to the lowest since September amid competing geopolitical and fundamental factors. Gasoline crack spreads continue to edge higher amid an expected demand boost over the Thanksgiving holiday while US inventories remain low. (Pg.3)
- Analyst Views: See market views by some of the industry’s biggest participants and analysts. (Pg.8)
Full piece here:
MNI Commodity Weekly - China Crude Import Surge Highlights Opportunistic Buying.pdf
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