Iran Oil Exports to China Rise To Highest in 11 Months

Iran is seeing the benefits from cutting it’s crude oil prices to gain market share. Iranian crude exports to China may rise to the highest in 11 months in August two tanker sources told Reuters on Thursday. Iran crude and condensate exports to China are seen at 733,000 barrels per day (bpd) in August. This would be a 11 percent rise in crude volumes month-on-month.

EIA Oil Inventories Crude -1527 Draw, Gasoline – 2517 Draw #TCOIL

The TCOIL preview for this week’s EIA DOE Weekly Petroleum Status Report highlights the key variable to watch out for. Crude oil markets are watching for production and product use with the all important import export trade.

Americans Buying Homes Again in June, Pending Home Sales +1.5%

US pending home sales from the National Association of Realtors in June show the first gain in four months. With the stock market at all time highs and in some regions home prices at new highs home sale volumes have concerned many.