No Financing And No Demand: Chinese Refiners Run Into Trouble
International banks are suspending credit lines for some independent oil refiners worried about the growing risk of defaults across industries because of the coronavirus epidemic, Reuters reports, citing industry sources… According to the sources, at least three private refiners, or teapots,…
The Dilemma Facing China Is Truly Awful
As has been the case since Monday’s sell-off, there is an attempt to try to look on the bright side of the virus headlines. Chinese officials are spreading the word globally that things are under control and that other country…
China Bloodbath: Stocks Crash; Oil, Iron Limit Down Despite Emergency PBOC Intervention, Rate Cuts
previewed on Friday and again earlier today when we noted the latest trades in China’s A50 futures… … China’s reopening from the long Lunar New Year holiday was set to be ugly, and sure enough with Chinese stocks resuming trade at 9am…