18 Dec 2024
The persistent rate elevation can be attributed to an early surge in pre-Lunar New Year demand, compounded by the ongoing Red Sea disruptions, which have necessitated extensive route diversions. Additionally, adverse weather conditions in China and Japan generate localized congestion at critical container hub infrastructures.
18 Dec 2024
17 Dec 2024
17 Dec 2024
16 Dec 2024
Meanwhile, Chinese demand provided additional support to prices. Data released this week revealed that China, the world’s largest crude importer, experienced annual growth in crude imports for November—the first such increase in seven months.
16 Dec 2024
13 Dec 2024
Global oil benchmarks declined on Thursday, November 12, 2024, as market sentiment was pressured by the International Energy Agency's (IEA) forecast of ample supply for the coming year. This followed OPEC+'s decision in the previous session to lower its demand growth projections for the fifth time
