# China's Iranian oil buying spree crushes demand for Brazil, Angola crude

> Spot premiums for Brazil's Tupi crude delivered to China in May fell to 10 cents a barrel over ICE Brent before recovering to 30-40 cents. The drop reflects China's heavy buying of discounted Iranian oil displacing Brazilian and Angolan barrels.

- Date: 2021-04-14 · published 2021-04-14T12:00:00.000Z
- Category: trade · region China · magnitude low
- Page: https://feedsoft.ai/events/47774-china-s-iranian-oil-buying-spree-crushes-demand-for-brazil-angola-crude
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Shifts in Chinese crude sourcing affect Brazilian export flows and regional oil pricing, with limited direct impact on feed commodities.

## Read by commodity

- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-09-16 | [U.S. crude export demand surges after attack on Saudi facilities](https://feedsoft.ai/events/5708-u-s-crude-export-demand-surges-after-attack-on-saudi-facilities.md) | +6.6% | -0.3% |
| BRENT | 2020-07-16 | [Soybean Rises on Stronger Chinese Demand](https://feedsoft.ai/events/52164-soybean-rises-on-stronger-chinese-demand.md) | +0.6% | +3.2% |
| BRENT | 2019-05-27 | [Oil under pressure from U.S.-China trade war, but OPEC cuts provide support, ETAuto](https://feedsoft.ai/events/59237-oil-under-pressure-from-u-s-china-trade-war-but-opec-cuts-provide-support-etauto.md) | -9.0% | -4.9% |
| BRENT | 2017-11-03 | [LNG prices soar as China faces winter gas crunch \| LNG Industry](https://feedsoft.ai/events/10192-lng-prices-soar-as-china-faces-winter-gas-crunch-lng-industry.md) | +5.8% | +4.7% |
| BRENT | 2017-10-31 | [Oil approaches 2-year highs but US export increase looms crude exports \| The National](https://feedsoft.ai/events/68150-oil-approaches-2-year-highs-but-us-export-increase-looms-crude-exports-the.md) | +5.8% | +4.6% |

## Sources

- reuters.com: https://www.reuters.com/world/middle-east/chinas-iranian-oil-buying-spree-crushes-demand-brazil-angola-crude-2021-04-14/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.