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Iran Conflict Drives Surge In China EV Demand
Iran Conflict Drives Surge In China EV Demand
A sharp rise in oil prices tied to the US-Israel confrontation with Iran is likely to speed up the global transition to electric vehicles, strengthening a shift that has already helped China overtake Japan as the world’s top car seller, according to South China Morning Post.
Crude prices have surged past $100 a barrel amid fears of disruption to energy supplies, particularly through the Strait of Hormuz. US President Donald Trump escalated tensions by warning he would “obliterate” Iran’s power plants if shipping...
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China's Refiners Slash Runs To Lowest Since 2017, As Asia Refiners Slow Purchases Of Mid-East Oil
China's Refiners Slash Runs To Lowest Since 2017, As Asia Refiners Slow Purchases Of Mid-East Oil
A little over a month ago, we explained that energy traders are "Traders Puzzled As Physical Oil Prices Tumble Amid Surging Chinese Crude Sales, Plunging Imports", and highlighted how already razor-thin independent refiner (teapot) margins had plunged to record negative as a result of the war in Iran and government policies meant to keep prices from rising.
Fast forward to today when the previously discussed dynamics have gotten progressively worse, and this morning Bloomnberg writes that...
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