TURNOVER ON SSE AND SZSE EXCEEDED 1.5 TRILLION YUAN, DOWN 214.9 BILLION YUAN FROM SAME TIME YESTERDAY

Saudi Aramco is set to reduce crude shipments to Asia’s two largest importers next month, with flows to China expected at about 40 million barrels in April versus 48 million in February, and India also seeing lower allocations. The cuts reflect ongoing disruption from the Middle East conflict involving the US, Israel and Iran, which has tightened global supply and pressured the Strait of Hormuz. Some volumes are being rerouted through Saudi Arabia’s Red Sea port Yanbu via an internal pipeline, though its capacity is limited at around 5 million barrels per day and only certain crude grades are available. The reductions add to concerns over higher import costs and broader inflation risks, with analysts warning markets may be underestimating the economic impact of the conflict.

美联储理事米兰：央行通常应忽略石油冲击带来的影响。