The International Trade Business Unit, PTT Public Company Limited, reported on the global crude oil price situation for the week of July 15-19, 2024 and the trend for the week of July 22-26, 2024. It was found that oil prices fell last week due to investors' concerns about the Chinese economic situation.
The National Bureau of Statistics (NBS) reported that the economic growth rate in the second quarter of 2024 was +4.7% from the previous year, which is lower than the first quarter of 2024 at +5.3% from the previous year. Misfortune and the decline in domestic demand
NBS reported that Chinese refineries imported crude oil for refining (crude throughput) in June 2024, down 3.7% from a year earlier at 14.25 million barrels per day. The lowest since December 2023. The IEA’s July 2024 report put Chinese oil demand in 2024 at 16.9 million barrels per day. (Down from previous estimate of 150,000 barrels per day)
Separately, US Secretary of State Antony Blinken said that ceasefire negotiations between Israel and Hamas were close to being reached. Meanwhile, Israeli Prime Minister Benjamin Netanyahu traveled to Washington, D.C., on July 22, 2024, to address the US Congress on July 24, 2024.
July 19, 2024, Israel sent F-15 fighter jets to attack the Yemeni coastal city of Hodeidah in response to a Houthi drone attack on Tel Aviv on Friday. At least 6 people were killed.
