Dalian Commodity Exchange: 06 May 2024

06 May 2024 The 2409 for September 2024 delivery contract on Dalian Commodity Exchange on 06 May 2024 settled as follows:

03 May 2024

WTI crude oil near seven-week low amid economic concerns

A surprise surge in crude and gasoline inventory in the US coupled with diminishing hope for cuts in key interest rates from the FED pressurised the sentiment.

03 May 2024

EIA: Crude and motor gasoline inventories surged in the US

The report showed that crude oil exports from the US fell more than 24% from the previous week to approximately 3.91 million barrels per day.

30 Apr 2024

Saudi Aramco expanded its presence in China through a series of acquisition

In July 2023, Aramco successfully acquired a 10% stake in Rongsheng Petrochemical for $3.4 billion with an attached 20-year contract to supply crude oil to Rongsheng’s subsidiary – Zhejiang Petrochemical.