- China’s crude oil imports are set to slow in the second quarter after Brent prices hit a 13-month high, cooling demand and capping refiners’ margins.
- The refiners prepare to shut for planned maintenance, industry sources and analysts said.
- Expectations of a recovery in global fuel demand and tighter oil supplies from Saudi Arabia and the United States pushed front-month Brent futures to their highest.
- It is highest since January 2020 this week, up around 30% from January.
A recent news article...