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Market Chatter: China Continues to Ease Export Curbs on Fuel

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China eased controls on refined fuel exports in August, granting temporary reprieve for a second month since the Middle East war was put in a ceasefire, Reuters reported Thursday, citing industry insiders.

Refiners on Tuesday were temporarily allowed to ship 2.7 million metric tons to destinations except for Hong Kong and Macau in August. They were also allowed to carry over some of this month's allowances to September due to the tight timeline for spot sales, the report said.

China started easing the export curbs in July after the U.S. and Iran agreed to work on a peace deal, which can fully reopen the Strait of Hormuz, a critical waterway for global oil trade.

The National Development & Reform Commission did not respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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