Tokyo — The number of domestic spot gasoline cargoes deals concluded during the Platts Japan Market on Close assessment process hit a record high in October and has remained high to date in November amid an increasing surplus of supply in the market, market sources said Nov. 6.
“We are seeing surplus spot barrels in the market,” a major trader based in Tokyo said, adding that the trend will continue for the foreseeable future.
Another trader in Osaka attributed the increase in spot trade activity to the gradual gasoline demand recovery in the country. Read more…..
Chart of the Day
Icarus TV
ABC’s Deirdre Bolton discusses the U.S. economy’s record-setting 33% annual growth last quarter, and why we’re still far from our pre-pandemic economy.
