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Asia's imports of Iranian crude in April hit four-month high but fall y-o-y �

Oil

Asia's imports of crude oil from Iran rose by 12% m-o-m to a four-month high of 1.2M b/d, Reuters reports, citing government and tanker tracking data. However, this was down by 4.1% y-o-y. China's imports rose to an 11-month high of 707K b/d but were still down 11.6% y-o-y. Indian imports rebounded from March's zero intake, with volumes up 17.5% y-o-y at 264K b/d. South Korean demand fell by 5.5% y-o-y to 126K b/d. Japan's imports jumped by 19.9% y-o-y to 68K b/d.