China’s November exports of refined oil products fell 2.2% year over year to 5.12 million tons, even as they rose 13.3% from October, according to customs data cited by Reuters. Over the first 11 months, combined shipments of jet fuel, diesel, gasoline and marine fuel slipped 3.2% to 52.65 million tons, with gasoline exports reportedly dropping sharply while jet fuel volumes advanced by double digits. The shifting product mix underscores evolving demand patterns in both domestic and regional markets, which can influence global fuel crack spreads and, indirectly, sentiment toward key energy benchmarks such as natural gas.
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Over the past month, prices for Natural Gas (CM:NG) have declined about 7.5%, reflecting ongoing pressure from ample supply and seasonally variable demand expectations, even as market participants monitor Asia’s refined product trade flows for broader signals on energy consumption. The 1-day technical outlook for CM:NG currently indicates a Hold stance, suggesting that, in the near term, traders may be waiting for clearer direction from weather trends, storage data, and cross-commodity dynamics before repositioning. Investors can explore more updates, prices, and analysis across global markets at Commodities.