Commodities
China-Bound Oil Tankers Hit Two-Year Low in Warning for Bulls
- Flow of supertankers headed for the Asian nation drops sharply
- Decline in cargoes adds to concern over China’s demand outlook
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The number of supertankers headed for China dropped to the lowest in almost two years, adding to recent concerns about demand in the largest oil importer during the second half of the year.
Only 86 of the tankers are indicating China as their next destination in the coming three months, shrinking by five from last week. That is the lowest weekly tally since August 2022 in data compiled by Bloomberg.