China's Energy-Demand Signs Were Rolling Over Before Iran The fact that China passenger-car sales peaked in November, before the Iran war, along with Beijing's plunging crude-oil imports may suggest that unfavorable trends for crude prices are gaining momentum. My graphic featuring the rollover in auto sales and crude imports -- and plunging Chinese government 10-year bond yields in the world's largest energy consumer -- could augur a continuation of Brent crude's pattern of lower highs and lows since 2008. The Brent price near $104 a barrel on Sept. 25 may be elevated, with this top source of crude demand declining. Low-price cure cycles have been resolved near $40 for roughly two decades, and this one might not be complete. That the US has 100% tariffs on EVs from China and Volkswagen is focusing on layoffs could point to an accelerating trend of technology replacing fossil fuels, and headwinds for crude. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tlrliirkv2tj{BI COMD} #crudeoil #energy #China @BBGIntelligence