14

views
Unfave

W. Africa Crude-Contango market, China virus upends trading

W. Africa Crude-Contango market, China virus upends trading LONDON, Feb 5 (Reuters) - Rapidly slowing economic activity in China halted Chinese crude buying as Brent crude futures flipped into contango for the first time since July. ANGOLA * Amid sharp refinery runs cuts, Chinese buying was largely paused but major customers appear not to have issued any force majeure declarations on existing crude purchases. * Teapot refineries in China's Shandong province, accounting for a fifth of crude imports, have halted spot tradi
Read the rest of the story on Reuters Nigeria

Added February 05, 2020
from Reuters Nigeria