Despite a tight oil market, concerns over Chinese demand are weighing on oil prices, with both Brent and WTI set to post a weekly decline.
While there is plenty to be bullish about in oil markets today, rising concerns over Chinese demand are weighing on oil prices .Friday, July 19th, 2024The consistent stream of positive news for oil from the United States, crowned by a largely unexpected 5-million-barrel drop in US crude stocks, has been offset by disappointment in China’s future outlook.
The EIA predicts that production of sustainable aviation fuel in the United States could rise by a whopping 1400% this year if all announced capacity additions start up on time, increasing from 2,000 b/d last year to 30,000 b/d in 2024.Suez Canal Revenue Plunges as Houthis Attack. The annual revenue of the Suez Canal Authority dropped by almost a quarter in its latest financial year to $7.
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