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SZO - U.S. Crude Imports Set To Plummet Toward The End Of October
DB Crude Oil Short ETN
Welcome to the where's the oil edition of Oil Markets Daily!
US crude imports are about to set a new monthly low this month. We are seeing October US crude imports coming in at ~6 mb/d.
Next week will show elevated imports of ~7 mb/d followed by sub ~6 mb/d for the following three weeks.
The reasoning behind such low imports is largely thanks to elevated demand pull from Asia and the rest of the world. This combined with elevated freight rates makes it more attractive to ship crude to high demand regions.