Arctic: Oil and Tankers Daily - Peacefire

Research evidence excerpt

Arctic: Oil and Tankers Daily - Peacefire

is still on”, also contribute to raising tensions. Market expected to remain on edge as it awaits the

the last two months of around -100 mbls, according to tanker trackers, and the start of SPR deliveries

US’ next step. Trump’s visit to China and meeting with President Xi will also be followed closely, mean that there are no additional buffers available. Note that neither metric could prevent global

especially after Iran and China FMs met last week. On the fundamental front, monthly and weekly inventories from drawing at an all-time high -6.5 mbd during April, a month when demand was

reports from the IEA, EIA and Opec will be closely watched for the latest data and forecasts. seasonally weak and the market still benefited from the arrival of MEG barrels that had been shipped

Geopolitical update: Trump's rejection takes market back to state of uneasy "peacefire" out before the war started.

Few details are known about Iran's response to the US proposal, delivered yesterday afternoon

China data shows it is the main factor behind price pause. Unlikely to last beyond May

via Pakistani intermediaries. Iran reportedly offered to transfer some of its stockpile of highly Rumors of steep Chinese stockdraws during the past month were essentially confirmed over the

enriched uranium to a third (unspecified) country, but has rejected a dismantling of its nuclear weekend as its official April import data showed that imports plunged by -2.4 mbd, or 20%, both

facilities. It also called for security guarantees against any further "aggression", the lifting of US m-m and y-y, to a four-year low. There are no indications that the economy has taken a hit which

sanctions and a recognition of its "right" to manage Hormuz.