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MNI Commodity Weekly: China Weakness Remains the Demand Driver for Oil

Commodities Weekly AnalysisAnalysisCommodities

Executive Summary:

  • China Weakness Remains the Demand Driver for Oil: The recent geopolitical premium has caused China demand concerns to fall into the background, but year-end outlooks remain sluggish and weigh on oil.
  • Oil markets remain wary of the risk of supply disruption from potential strikes by Israel on Iranian oil facilities but lack of physical disruption, returning Libya supply and muted reaction to China stimulus have limited upside price pressure. Fuel cracks are holding steady with gasoline support from rising demand ahead of Hurricane Milton and diesel support from tighter supplies due to lower refinery runs. (Pg.4)
  • Analyst Views: See latest views on oil market from biggest names in industry, largely covering the Israel/Iran escalations. (Pg.7)
Full piece here:

MNI Commodity Weekly - China Weakness Remains the Demand Driver for Oil.pdf

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Executive Summary:

  • China Weakness Remains the Demand Driver for Oil: The recent geopolitical premium has caused China demand concerns to fall into the background, but year-end outlooks remain sluggish and weigh on oil.
  • Oil markets remain wary of the risk of supply disruption from potential strikes by Israel on Iranian oil facilities but lack of physical disruption, returning Libya supply and muted reaction to China stimulus have limited upside price pressure. Fuel cracks are holding steady with gasoline support from rising demand ahead of Hurricane Milton and diesel support from tighter supplies due to lower refinery runs. (Pg.4)
  • Analyst Views: See latest views on oil market from biggest names in industry, largely covering the Israel/Iran escalations. (Pg.7)
Full piece here:

MNI Commodity Weekly - China Weakness Remains the Demand Driver for Oil.pdf