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This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document.
Nearly 10% in 20 months. More than +4% this year alone. Three forces are driving the surge despite efforts to slow it: - China’s massive trade surplus is driving demand for yuan - Exporters are converting dollar earnings into yuan, adding more pressure - A weaker U.S. dollar has amplified the move Beijing is already leaning against the rally. The PBOC has repeatedly set its fixing weaker than markets expect, while state banks have reportedly bought dollars to limit further gains. Source: coinbureau
Chinese oil demand has unexpectedly rebounded, pushing Shanghai crude above $100 per barrel and to a significant premium over Brent. That marks a sharp reversal from earlier in 2026, when weak Chinese imports and refining activity helped contain global oil prices. Now, Chinese buyers are aggressively competing for supplies from Africa, Canada and Latin America as Iranian exports collapse and disruption around the Strait of Hormuz persists. Some African crude grades are reportedly trading at premiums of up to $20 over Brent, while Russian ESPO prices are also strengthening. The rebound appears driven by improving refinery margins, renewed fuel exports and inventory restocking—not necessarily a full economic recovery. But the market implication is clear: Brent is approaching $100 Alternative supplies are becoming more expensive Further shipping disruptions could send prices toward $120 China may have just removed one of the biggest brakes on global oil prices. Source: Zerohedge, Bloomberg
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