Shanghai crude futures trade above Brent for first time since May as China resumes buying
Shanghai crude futures traded above Brent crude for the first time since May, with China's buyer strike having been the most important reason oil prices remained subdued during the Iran war. China appears to be resuming crude purchases, while renewed U.S. strikes on Iran have led to attacks on commercial shipping near Hormuz and significant war-risk claims.
Detected & updated continuously · Source: Nebula
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@WarrenPies
OIL Shanghai crude futures above Brent Crude for the first time since May. China's buyer strike has been the most important reason oil prices have remained subdued during the Iran War. It seems China is buying again now... https://t.co/qUeU2rl4yL
@PiQMarkets
Iran War Escalates, Impacting Oil Shipping and Venezuela's Oil Sector Renewed U.S. strikes on Iran have intensified the conflict, leading to attacks on commercial shipping near Hormuz and significant war-risk claims. Meanwhile, Chevron is investing billions in Venezuela's oil