Crude Oil Import Demand

Brent crude prices have fallen back to pre-war levels of approximately $72/b, driven by the easing of geopolitical tensions in the Strait of Hormuz. Analysts expect Chinese import demand to recover quickly at these price levels.

Key Takeaways

• 1.Brent crude prices have corrected sharply to pre-war levels near $72/b, reflecting a normalization of oil flows through the Strait of Hormuz.
• 2.Chinese crude oil import demand is expected to revive following the price drop, as refinery margins improve.

Table of Contents

• Crude oil import demand should pick up quickly with Brent at $72.5/b
• Tanker Transits Through Strait of Hormuz Ramp Up

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