Crude demand in 4 charts map out Asia’s financial battle | Insights

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.

This text was written by Bloomberg Intelligence Senior Trade Analyst Henik Fung. It appeared first on the Bloomberg Terminal.

China’s dropping PPI and falling oil imports counsel its post-reopening vitality demand is stumbling out of the gate. Plunging charges for oil tankers to India and South Korea’s tumbling export progress affirm the area’s financial battle. Authorities helps could be key to maintaining the flame lit on progress and vitality consumption. Oil costs might dip in 2023.

Oil demand might take cue from China’s falling PPI

China has one thing new to fret about, as flagging financial progress might pose a much bigger problem to Beijing. The nation’s producer value index (PPI) plunged to minus 3.6% year-over-year in April, vs. the height of 13.5 % in October 2021 — the quickest progress since 1995. China’s April manufacturing slowed to 49.2 from 51.9 in March, suggesting potential financial stagnation forward, and home affordability could possibly be weak sufficient to rattle the restoration for each the financial system and crude utilization.

China’s PPI and WTI’s month-to-month actions have been extremely correlated since 2008. If previous is a information, the oil value and demand might fall whereas China’s PPI stays in damaging territory.

China’s oil imports sign stalled restoration

A restoration in oil demand following China’s November reopening might show to be elusive. Our calculations, based mostly on Bloomberg’s each day crude import information as of Might 13, exhibits that China’s Might crude imports might quantity to 13.3 million barrels a day, flat from a 12 months in the past. This means oil demand stays sluggish following the nation’s reopening, and will face weaker demand within the coming months amid international financial turbulence.

Plunging tanker charges amid Asia’s slowing oil demand

Asia’s tenuous restoration has lowered the area’s urge for food for crude. The 80.6% plunge within the oil-tanker charge for the Arab Gulf-India path to $23,752 a day on Might 12 suggests Asia’s oil demand has been weakening since March, significantly in China and India. The worldwide financial headwind following US Fed charge hikes, banking turmoil and debt ceiling battle makes for dimmer progress, decrease vitality consumption and a decline in oil-tanker charges.

South Korea’s exports drop a nasty omen for Asia demand

South Korea’s exports function a bellwether of the broader international financial system, undulations of which intently mimic adjustments in oil costs, reflecting its prominence in international industrial exercise and its voluminous exports. South Korea’s export progress has been damaging for seven straight months, a telling symptom of the worldwide financial slowdown, with a backside potential on a 20% contraction. Such a situation unfolded on three earlier events, in 2001, 2009 and 2020. If historical past is a information, oil demand might fall and the worth slip to the $50-$60 vary earlier than 3Q, based mostly on its correlation with South Korea’s export progress.