Australia is set to become Asia’s biggest importer of fuels, opening up trading opportunities in one of the world’s most profitable energy markets, as ageing Caltex and Shell oil refineries near Sydney shut and other plants look vulnerable.
The trend will reverberate across energy markets since Australia burns top-quality fuels and a rise in imports means more competition for Europe — Asia’s top buyer of such grades.
via Reuters
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.