Chinese fuel exporters have cancelled several planned October shipments of gasoline and diesel to prioritize domestic energy supplies. The supply reduction follows below-normal product flows from the Persian Gulf and tight domestic fuel inventories. Trading spreads for refined fuels in Asia widened sharply following the cargo cancellations.
Crude oil benchmarks remained above $100 per barrel as market participants balanced Chinese fuel export curbs against rebounding Middle Eastern crude shipments. Brent crude reached $102.60 per barrel and WTI stood at $93.14 per barrel following Chinese refiners suspending refined fuel exports beyond Hong Kong and Macau. Meanwhile, Middle East crude exports recovered to 17.5 million barrels per day following the restart of Saudi Arabia's East-West Pipeline.
The UAE is positioning its free-zone network as the Middle East gateway for a China-backed BRICS artificial intelligence initiative. The framework connects trade corridors, digital infrastructure, and regulatory sandboxes between Chinese and Emirati tech enterprises. It aims to accelerate commercial AI adoption and support wider Gulf efforts to attract Chinese high-tech investments.
Chinese refiners have suspended refined-product exports beyond Hong Kong and Macau until further notice, pushing Brent futures above $100 per barrel. The move comes as Middle East crude exports rebounded to 17.5 million barrels per day following the restart of Saudi Arabia's East-West Pipeline.
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