Oil: Iran tensions and China demand shifts – Commerzbank
Commerzbank’s Barbara Lambrecht and colleagues note Brent has jumped as Iran–US tensions escalate and US policy debates gasoline tax relief. China’s crude Oil imports fell sharply in April, with further declines expected as shipments from Saudi Arabia and Iran drop.
Brent prices are likely to experience volatility due to escalating tensions between Iran and the US, potentially driving prices higher. However, declining demand from China may counteract this upward pressure.
Commerzbank’s Barbara Lambrecht and colleagues note Brent has jumped as Iran–US tensions escalate and US policy debates gasoline tax relief. China’s crude Oil imports fell sharply in April, with further declines expected as shipments from Saudi Arabia and Iran drop.
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