News Headlines:
OIL DAYBOOK EUROPE: China Offers Crude Reserves; Brent Overhaul (Bloomberg)
China supplied oil from its strategic state- run inventories to the country’s largest refiners earlier this month in a bid to quell a price rally. The Strategic Petroleum Reserve supplied about 3 million tons, or 22 million barrels, to the processors, according to people familiar with the situation.
Benchmark Oil Tankers Edge Higher; U.S.-Europe Clean Rates Rise (Bloomberg)
Rates for hauling oil on the benchmark Middle East-to-China route edged 0.1% higher to Worldscale31.59, according to Baltic Exchange data. With the Daily loss narrowed slightly, to $4,492
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Base morning Intraday Note 21-07-21
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