China Halts Fuel Exports as G7 Adds to Record Drawdown, Putin Threatens Nukes if NATO Attacks Kaliningrad
Today's Digest covers China's Iranian oil cutoff, China's fuel export halt and G7 reserve release, Russia-NATO and Middle East tensions, French protests, V-safe reports, subprime auto bonds, Flock cameras of unknown origin, and U.S. flooding.
Source: Peak Prosperity
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DW NOTE
China stopped exporting fuel in October to rebuild domestic stocks — diesel inventories were 20 million barrels below the export threshold, gasoline 9 million short. When your primary source of cheap crude (Iranian oil through a blockaded strait) drops from 1.4 million barrels per day to zero, you ration what you have left. The G7 is draining strategic reserves into the same tightening market, which is why this is called a drawdown and not a strategy.