#OilPrices

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9-21-26 Market Pressure Is Building | Before the Bell

YouTube video by Before the Bell

youtu.be

9-21-26 Market Pressure Is Building | Before the Bell

YouTube video by Before the Bell

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Ringgit Ends Higher Against US Dollar as Oil Prices Ease on Hopes of US-Iran Diplomacy

KUALA LUMPUR — The ringgit strengthened against the US dollar on Monday as improving global risk sentiment and lower oil prices supported emerging-market currencies amid renewed hopes for diplomatic progress between the United States and Iran. At 6pm, the local currency stood at 4.0755/4.0800 against the greenback, compared with Friday’s close of 4.0795/4.0840. The improvement …

apnews.com

Stocks advance after Bessent says talks with China were successful before Trump-Xi meeting

Global shares are advancing ahead of the expected meeting between U.S. President Donald Trump and Chinese leader Xi Jinping this week in Washington.

en.killbait.com

China's declining oil demand helps stabilize global prices amid Middle East tensions

Global oil markets are experiencing renewed turmoil due to escalating tensions in the Middle East, with prices surpassing US$100 per barrel for the first time since May. The crisis was triggered by the bombing of Saudi Arabia's East-West pipeline, a critical export route that bypassed the Strait of Hormuz. This disruption has led to fuel price spikes, protests across multiple countries, and a significant reduction in global oil stocks. However, the situation could have been far worse without China's reduced oil demand. China, the world's largest oil consumer, is experiencing its third consecutive year of declining oil imports, driven by strategic stockpiling and a rapid transition to electric vehicles. Chinese oil imports have slowed as the nation draws on its reserves, while the adoption of electric vehicles has accelerated, with nearly two-thirds of new cars sold in China now being battery-electric or hybrid models. This shift has contributed to a projected 3.9% decline in oil demand for 2026, suggesting China's oil consumption may have peaked in 2025. The country's actions have helped prevent further price surges, as China cut its imports by up to four million barrels per day, offsetting the five million barrels per day removed from the market by Middle East disruptions. China has also leveraged its economic influence, reportedly urging Iran to halt attacks on Saudi infrastructure, given that Chinese buyers accounted for over 80% of Iran's seaborne exports in 2025. Meanwhile, oil producers have adapted by rerouting shipments through Oman's Sohar port, which has seen a tenfold increase in China-bound crude oil shipments from February to August. Despite these measures, the crisis has exposed vulnerabilities in global energy markets, particularly for countries like Australia, which remains heavily dependent on imported diesel. Australian fuel prices have already risen significantly, with diesel approaching A$3 per litre in some regions. Experts warn of further increases, though the government's plan to boost diesel reserves offers short-term relief. Long-term solutions, as suggested by China's approach, involve electrifying transport where practical and transitioning to natural gas for sectors like mining and long-distance freight. This strategy could help Australia reduce its reliance on imported fuels while leveraging its position as a major liquefied natural gas exporter. The situation underscores the importance of diversifying energy sources and reducing dependence on volatile global oil markets.