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Analysis Asia Oil: Strong China demand remains critical to ongoing oil recovery

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Asia Oil Strong China demand remains critical to ongoing oil recovery Analysis
http://ntvforex.com/news/?id=8bb1cd. . 9 1 2020 4 49 24 AM Brent lagged slightly as commodities reflated across the board yesterday on the back of last week s Fed meeting at Jackson Hole. Iron ore and other hard commodities led the reflation trade surge after China s services sector grew at its fastest pace over two and a half years in August. Strong crude demand from China has been one of the most critical pillars in the ongoing recovery in oil markets, especially with the largest oil consumer of all, the US, still struggling to recover from the negative demand implications of the coronavirus economic beat down. Despite the hard commodity reflation bounce, which oils were coat tailing yesterday, China s crude imports in September are set to fall for the first time in five months as Chinese oil buyers struggle with tank tops. While China is eager to buy at the current price as its ongoing economic recover...

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