Project Description
The crude oil price peaked at the beginning of June at about $120 per barrel. Since then its been steadily falling to about $90 per barrel. As a result the volumes have retreated back and in particular China who imported 31.6 million tonnes, down from 39.9 million tonnes in May. As a result crude oil has only fallen 3% but sentiment has been much stronger recently.
Gas oil and Gasoline has been strong in the second quarter this year which is seasonal. However LNG trades have been very consistent over the summer in terms of volumes and trading partners.