Energy Aspects' Amrita Sen says oil market hits an inflection point as prices break above $100 a barrel
AI Market Summary
Energy Aspects flags an oil-market "inflection point" as Middle East shipping risks (Hormuz disruptions, Red Sea threats) tighten supply to Asia while China's crude imports rebound toward ~10 mb/d from June lows. Accelerating global inventory drawdowns (~120 million barrels over two weeks) reinforce a tighter physical balance, helping crude hold above $100/bbl and increasing near-term sensitivity to logistics and geopolitical headlines.
Impact level
● High
Affected assets
NCCO1OILWTI2USD/USDT+1.06%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
▲ Bullish
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Energy Aspects founder and market intelligence director Amrita Sen said the oil market has reached an “inflection point,” with the price trend pointing higher as global inventories are being drawn down faster and China’s crude buying has rebounded. She estimated China will import about 10 million barrels per day of crude in September, roughly 3 million bpd more than in June when imports fell below 7 million bpd to a decade low. Sen also said global inventories fell by 120 million barrels over the past two weeks, helping lift oil above $100 a barrel for the first time since July, according to Bloomberg.
