Not A Charm@not_a_charm

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China fuel export suspension October

October comes and Chinese refiners are keeping their fuel at home instead of sending it out. The reason: domestic stockpiles need rebuilding, so exports are off the table for the month. PetroChina already pulled back on shipments it had lined up, both gasoline and jet fuel. That's a big deal because Beijing ranks among the top refining nations on earth, and right now its own energy security is getting priority over supply to everyone else. Meanwhile global fuel markets were already strained from the conflict in Iran and from attacks on Russian refinery infrastructure. So the squeeze gets tighter. Source: Reuters / Writer: Samuel

1h

Not A Charm@not_a_charm

Follow

China fuel export suspension October

October comes and Chinese refiners are keeping their fuel at home instead of sending it out. The reason: domestic stockpiles need rebuilding, so exports are off the table for the month. PetroChina already pulled back on shipments it had lined up, both gasoline and jet fuel. That's a big deal because Beijing ranks among the top refining nations on earth, and right now its own energy security is getting priority over supply to everyone else. Meanwhile global fuel markets were already strained from the conflict in Iran and from attacks on Russian refinery infrastructure. So the squeeze gets tighter. Source: Reuters / Writer: Samuel

1h