tyb
and Macron got dafuq outta dodge to China
Chinese Refiners Buy More Iranian Oil As Competition For Russian Crude Heats Up
Many private Chinese refiners in the Shandong province are buying increasing volumes of Iranian crude as competition for Russian oil from China's major state-held refiners and from Indian buyers has made Moscow's barrels relatively more expensive.
China's private refiners, the so-called teapots, are estimated to have imported 800,000 barrels per day (bpd) of Iranian crude oil and condensate in March, up by 20% compared to February, Emma Li, an analyst with Vortexa, told Bloomberg.
Imports from Iran into the Shandong province—home to most of the private refiners in China—could continue to be robust in the coming months, according to the analyst.
There isn't official data on Iranian imports into China, so the market relies on tanker-tracking companies that aim to capture the true picture of how much of Iran's oil, sanctioned by the U.S. and going to very few destinations these days, is being shipped to China. The private refiners in the world's top oil importer are now betting more on cheap Iranian crude, as Russian supply is going to the state-owned Chinese majors and to India's refiners. Russia's crude is also cheaper compared to international benchmarks, but heightened competition has driven up prices in recent weeks.
Russia was the single largest crude oil supplier to China in January and February, overtaking Saudi Arabia, which was the number-one supplier of oil to China last year, according to Chinese customs data from last month. As China accelerated the buying of cheap Russian crude oil at discounts to international benchmarks, Chinese imports of crude from Russia jumped by 23.8% year over year to 1.94 million barrels per day (bpd) in January and February 2023.
India, for its part, is also boosting imports of Russian oil to record levels. In February, Russia remained India's top oil supplier for a fifth consecutive month.
Both India and China are not abiding by the G7 price cap as they seek opportunistic purchases of cheap crude.
https://oilprice.com/Energy/Energy-General/Chinese-Refiners-Buy-More-Iranian-Oil-As-Competition-For-Russian-Crude-Heats-Up.html
and how smart were the Japanese to start buying VP's crude since OPEC cut production the very next day and they also raised the wholesale prices exported to Asia at same time-they still rely heavily on Arab oil'
Arab crude oil provides 98.1 percent of Japan’s imports in February
https://www.arabnews.com/node/2279941/business-economy
Realtor.com Reports Weekly Active Inventory Up 53% YoY; New Listings Down 22% YoY
Active inventory growth continued to climb, but at a lower rate, with for-sale homes up 53% above one year ago. The inventory of for-sale homes rose compared to last year, but at a slower pace than the previous week for a third time in a row as a smaller number of hopeful homebuyers still outnumber new sellers on the market. Typically by this point in the spring season, the inventory of homes for sale is 2 to 3 percent higher than January-levels. However, the inventory of homes for sale was 11 percent lower than the beginning of the year after 13 weeks of declines. While home inventory was higher than the same week in the last two years, this was primarily driven by longer time on market. The inventory of homes for sale remained at nearly half of what it was several years ago before the pandemic.
…
• New listings–a measure of sellers putting homes up for sale–were again down, this week by 22% from one year ago. The number of newly listed homes has been lower than the same time the previous year for the past 39 weeks. This past week, the gap from last year increased slightly but has remained in the -20% to -22% range for the past three weeks. While newly listed homes are increasing for the spring season, this seasonal uptick remains lower than all previous years on record since 2017.
Homes spent 18 extra days on the market compared to this time last year.
https://www.calculatedriskblog.com/2023/04/realtorcom-reports-weekly-active.html
30y fixed rate average heading back down to 6%-with all the turmoil in the bond market(s)
People are waiting for the FED Pivot in some cases and then pulling listings (or just not listing) if they sit for too long-seen one sale in local hood in last month
they need each other and a marriage of convenience.
The Russians do not need help from China militarily speaking
Don't have to agree with everything the other does and typical NYT spin to amp up the rhetoric
AF2 C-32A landed at Chatanooga Int'l with CONGO31 T1-A Jayhawk in from Pensacola NAS
SETH01 C-17 Globemaster (red dot) NE and SPAR654 Learjet 35 east from Scott AFB-heading to JBA-pretty routine pattern with these from Scott to JBA
go talk to Gary as he is busy picking the winners and losers there
the illusion of not having a control structure