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LONDON -Currency market volatility on Tuesday fell to its lowest since before the COVID-19 pandemic roiled markets in March 2020, as traders sat on the sidelines waiting for clearer signals on the inflation trajectory and how central banks will respond. With an impending European Central Bank assembly on Thursday and U.S. inflation knowledge due the identical day, and a U.S. Federal Reserve assembly subsequent week, currencies appear to be treading water. Chinese authorities have ordered a unit of state-run PetroChina to cease trading off crude oil import quotas with local refineries as a part of a crackdown on excessive gas production, a transfer that could minimize the nation’s crude imports by 3%, sources said. PetroChina Fuel Oil Co Ltd is a serious crude oil supplier to China’s independent refineries.
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