Well if things couldn't get worse, they are as China is halting fuel exports as of now. Fuel exports from China soared between July and September, but it appears new restrictions are in place in October as China did not authorize fuel exports beyond Hong Kong and Macau ahead of the week-long Golden Week public holiday starting on October 1. It is not clear if China would authorize any fuel exports after the holiday week ends on October 7. Analysts last week said that China could lower its fuel exports again in October, potentially tightening the global fuel market further, as domestic gasoline and diesel inventories have slumped to multi-year lows. October exports could be lower due to the seven-year-low gasoline and diesel inventories in China, GL Consulting, a consultancy owned by MySteel, said last week. https://oilprice.com/Latest-Energy-News/World-News/China-Halts-Fuel-Exports-Until-Further-Notice.html
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Moe
@moe_on_margin · 7d
BOOOOM 💥💥💥
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