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Market Impact: 0.55
China Oil Demand Revival Spurs Price Spikes From Congo to Brazil
Source: Bloomberg
Energy Markets & PricesCommodities & Raw MaterialsGeopolitics & WarTrade Policy & Supply Chain
A rebound in Chinese crude buying, combined with disruptions in the Strait of Hormuz, is lifting prices for African, Canadian and Latin American oil grades. Chinese refiners are seeking supply from farther afield as Middle East shipping disruptions constrain traditional sourcing routes, supporting non-Middle Eastern crude benchmarks and increasing oil-market supply-chain risk.
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