Oil closes in on $100 as renewed supply crunch looms
“They have run out of their base options if the government is not telling them to pull down reserves.” — June Goh, Senior Oil Analyst at Sparta Commodities
- Expert: June Goh (Senior Oil Analyst, Sparta)
- Publication: Financial Times
- Market Focus: Crude Oil, China Demand, Middle East Supply
- Geographies: China, Middle East, Asia
In a recent analysis for the Financial Times, Sparta’s Senior Oil Analyst, June Goh, flagged that China has re-entered the crude market after cutting purchases by a third early in the Iran war and drawing down reserves instead. Chinese buyers have since turned to Iraqi and Saudi crude, despite elevated prices, because they can’t source enough Russian and Iranian barrels to meet demand. Goh noted that buyers have exhausted their alternative options unless Beijing directs further reserve drawdowns. Traders should watch Chinese crude import data and reserve levels for signs of renewed buying pressure on Middle Eastern grades.
[Read June Goh’s full commentary in the Financial Times]
About the Author
June Goh | Senior Oil Analyst, Sparta Commodities
June is a senior oil market analyst at Sparta specialising in global crude trade flows and refining economics across Asia and Europe. Her analysis is regularly cited by Bloomberg, the Financial Times, and Reuters. With a significant following in the energy community on X (@JuneGoh_Sparta), June’s insights are a staple for institutional traders navigating regional market shifts.
Connect: LinkedIn / X
About Sparta
Sparta is the AI leader for commodity trading, home to Leonidas AI, the first decision-making engine for oil and commodity traders. Backed by USD 42 million in Series B funding led by One Peak, with participation from returning investors FirstMark and Singular, the same investors behind AI leaders like Legora, Dataiku, and Synthesia. From independents to multinationals, the world’s leading commodity teams use Sparta and Leonidas AI to move faster, trade smarter, and stay ahead of the market.
For more information, visit Sparta or follow us on LinkedIn.
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