KPLER News & Analysis
3 articles
Market Mood
Iran Threatens Bab el-Mandeb Strait, Oil Exports Impacted
Iran's Revolutionary Guard has threatened to close the Bab el-Mandeb Strait, which connects the Red Sea to the Gulf of Aden, if Israel does not cease its strikes in Gaza and Lebanon. Oil exports through the Bab el-Mandeb nearly doubled to 7.2 million barrels per day in April from 3.9 million bpd in February. This increase has been critical in offsetting supply losses from the Strait of Hormuz. U.S. crude prices rose 8% following the threat, indicating potential market volatility linked to geopolitical tensions and oil supply disruptions.
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China's Oil Imports Drop to 6.78M Barrels Per Day Amid Crisis
China's crude oil imports are estimated at 6.78 million barrels per day (bpd) for May 2026, the lowest monthly figure in nearly ten years. This represents a decrease from April's imports of 8.5 million bpd and significantly below last year's average of 10.66 million bpd. Refinery rates in China have also dropped by 154,000 bpd from April, averaging 13.5 million bpd. Despite the decline, China is likely to increase imports again to maintain sufficient inventory levels, which may lead to a price correction in the oil markets.
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U.S. Crude Oil Exports Reach Record 5.2 Million BPD Amid Iran War
U.S. crude oil exports surged to a record 5.2 million barrels per day (bpd) in April, representing over a 30% increase from 3.9 million bpd in February. The Port of Corpus Christi became the busiest oil export terminal, handling more than 240 vessels in March, up from a typical 200. Asian buyers accounted for half of U.S. exports in April as they shifted from Middle Eastern imports due to blockades. Tankers, particularly very large crude carriers (VLCCs), have doubled in volume, with the port's capacity maxing out at approximately 2.6 million bpd due to pipeline constraints.
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