China’s top refiner Sinopec has reportedly lowered crude processing rates by about 10%, or roughly 500,000 barrels per day, as disruptions in the Strait of Hormuz tighten feedstock availability and coincide with planned maintenance. The move, which affects a company responsible for around one-third of China’s refined fuel output, underscores how regional shipping bottlenecks are feeding into global supply expectations for Oil – Brent Crude and Oil – US Crude.
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Over the past month, Brent prices have surged about 51.9%, reflecting mounting geopolitical risk premia and concerns that reduced Asian refining activity could tighten product markets, while its 1-day technical stance is rated Buy. U.S. crude has climbed roughly 56.4% in the same period, indicating even stronger bullish momentum tied to broader supply fears and speculative inflows, and it also shows a 1-day technical signal of Buy. Investors can explore more updates, prices, and analysis across global markets at Commodities.