The Energy Cable #8: How China uses the SPR to counter energy trends
It’s the start of a new week and you know that means a new “Energy Cable” is released.
We have been talking at length about our skepticism of levering oneselves up to the tits on the China reopening story and apparently we are not done playing devil’s advocate on this matter. Ever since the Chinese decided to reopen late last year international flights have been increasing. From December till February we have seen an increase in some 100-120 flights going outside of China and this screams bullish oil, right?
In this piece, we are going to show why it may not be the case and why Energy keeps underperforming despite the reopening of the second largest economy in the World.