China’s imports of discounted crude from Iran rose 148kb/d m/m to a record of 1.5mb/d in June, according to Kpler data cited by Bloomberg.

• Flows have held above 1mb/d since February and rose above the previous peak last month to a record in data going back to Jan. 2013.
• Imports into Dongjiakou port showed the biggest increase of 123kb/d m/m in June.
• The discounted cargoes will likely be processed by private refiners rather than to fill the strategic petroleum reserves, said Viktor Katona.
• Crude-at-sea headed for China was its lowest since September last year on July 12.

Source: Bloomberg