Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Saturday, July 5
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Commodities»The Commodities Feed: China oil demand worries | articles
    Commodities

    The Commodities Feed: China oil demand worries | articles

    July 16, 20242 Mins Read


    The price action in oil yesterday was choppy. US dollar movements, Chinese demand concerns and expectations of a tighter global oil balance through the third quarter of the year all contributed to this choppy session. However, with ICE Brent settling below US$85/bbl, USD strength and Chinese demand worries were clearly the dominant drivers.  

    China’s data dump yesterday was fairly bearish. Second-quarter GDP came in at 4.7% year-on-year, below the market consensus of 5.1%. In addition, refinery activity in China slowed further in June. Refineries processed around 14.25m b/d in the month, down 3.7% YoY. Meanwhile, cumulative crude processed over the first six months of the year came in at 14.5m b/d, down 0.4% YoY. Trade and output numbers also suggest that China’s apparent oil demand fell to around 13.7m b/d in June, the lowest level since February 2023.

    European natural gas prices edged lower yesterday. TTF settled 1.1% lower on the day as European gas storage broke above the 81% full mark. In the absence of any significant supply disruptions, storage is on track to hit 100% full ahead of the next heating season.

    The LNG market continues to face some supply disruptions. The Freeport LNG export facility in the US has still not returned to normal operations following Hurricane Beryl. However, the plant is expected to go through a phased restart from this week.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleLiberty Utilities customers left concerned, asked to voluntarily conserve
    Next Article Understanding tax terms – wash sales – The Ukiah Daily Journal

    Related Posts

    Commodities

    Multi Commodities Exchange to launch electricity futures on July 10

    July 4, 2025
    Commodities

    CAD holds gains through upper 1.35s – Scotiabank

    July 3, 2025
    Commodities

    Indonesia Eases Import Rules for 10 Key Commodities

    July 3, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    Action Ganglong China Property Group Limited | Cours 6968 Bourse Hong Kong S.E.

    July 31, 2007
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Stock Market

    Dow jumps 500 points, S&P 500 posts longest win streak in 20 years as stocks claw back tariff losses

    May 2, 2025
    Finance

    les grandes tendances technologiques de 2025 selon CB Insights

    April 7, 2025
    Bitcoin

    Ethereum Founder Says Dogecoin Deserves To Be Number 2 Crypto After Bitcoin

    October 31, 2024
    What's Hot

    UK ‘altnets’ raise fresh funding as finance deals heat up

    August 25, 2024

    Trump tariffs latest: Asian markets plunge after US tariffs as Trump calls them ‘medicine’

    April 6, 2025

    Wall Street dégringole de près de 6% à la clôture – L’Express

    April 4, 2025
    Most Popular

    La finance ne veut pas être un «bouc émissaire» dans le débat autour du budget 2026

    June 8, 2025

    The Commodities Feed: Trump-Putin call yields little progress | articles

    May 19, 2025

    Closing prices for crude oil, gold and other commodities

    July 12, 2024
    Editor's Picks

    What’s happening to house prices?

    March 27, 2025

    Why Scottish Widows’ Massive Selloff Is a Wake-Up Call for the UK Market

    June 19, 2025

    Donald Trump Reveals Plans For US Government’s 213,239 Bitcoin If Elected

    July 29, 2024
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.