Yulia Slavina

Japan’s Idemitsu purchases 4 million barrels for August delivery, Tracy Shuchart notes

Japan’s Idemitsu purchases 4 million barrels for August delivery, Tracy Shuchart notes
Idemitsu Kosan buys U.S. crude oil

Tracy Shuchart, independent trader and strategist, reports that Japanese refiner Idemitsu Kosan has acquired around 4 million barrels of U.S. crude oil for August delivery.

This brings Japan’s total crude purchases for August to 12 million barrels, following earlier acquisitions by Eneos, Cosmo, and Taiyo Oil.

Shuchart has previously reported that energy and materials stocks are positioned to drive S&P 500 profit growth over AI industry leaders, according to her recent analysis. She also noted that a two week hold in oil markets did not resolve underlying supply issues in her March 30 commentary. Her commentary continues to track developments in the energy sector.

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