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19-11-2021, 05:12 PM
19 Nov 2021 04:19PM
(Updated: 19 Nov 2021 04:17PM)
SINGAPORE : Asia's spot crude market has peaked after touching near two-year highs this week, as a possible release of oil reserves from top consumers globally dented sentiment and weighed on prices
......
China said it is working on a release of its crude reserves, while Japan and South Korea are reviewing the U.S. request.
......
the possible unprecedented coordinated oil release by top consumers has chilled buying interest in recent sessions
......
"Any oil released from the Chinese SPR needs to be refilled within 90 days," Energy Aspects analysts said in a note.
"The market should focus on where these countries will find crude to refill these tanks given just how low stocks are."
https://www.channelnewsasia.com/business...se-2325306
(Updated: 19 Nov 2021 04:17PM)
SINGAPORE : Asia's spot crude market has peaked after touching near two-year highs this week, as a possible release of oil reserves from top consumers globally dented sentiment and weighed on prices
......
China said it is working on a release of its crude reserves, while Japan and South Korea are reviewing the U.S. request.
......
the possible unprecedented coordinated oil release by top consumers has chilled buying interest in recent sessions
......
"Any oil released from the Chinese SPR needs to be refilled within 90 days," Energy Aspects analysts said in a note.
"The market should focus on where these countries will find crude to refill these tanks given just how low stocks are."
https://www.channelnewsasia.com/business...se-2325306
