Med crude-Urals diffs drift sideways in opaque market
MOSCOW, Nov 7 (Reuters) -Urals crude oil differentials were little changed in an opaque market, while global oil prices stabilized on Thursday, hovering around flat the day after an extremely volatile session, pressured by a strong dollar and lower crude imports in China.
China's crude oil imports fell 9% in October, data showed on Thursday, a sixth consecutive monthly year-on-year decline as a plant closure at a state oil refinery adds to weaker demand from independent refiners.
PLATTS WINDOW
No bids or offers were shown for Urals, Azeri BTC or CPC Blend in the Platts window on Thursday.
NEWS
India's fuel consumption in October rose by 2.9% year-on-year to 20.04 million metric tons, oil ministry data showed on Wednesday, driven by strong economic activity.
China will continue to have an important role in global oil demand despite the peaking of fuel consumption in its road transportation sector amid energy transition, Vitol's global head of research, Giovanni Serio, said on Thursday.
Reporting by Reuters; Editing by Shailesh Kuber
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
