World · 21 August 2026
Chinese buyers get less Iranian oil as the US restarts its shipping blockade
Ship trackers haven't spotted any tankers carrying crude from Tehran crossing the Strait of Hormuz since Washington brought restrictions back in mid-July. The shortage threatens independent plants in China's Shandong province, which rely on the sanctioned fuel for twenty percent of Chinese refining power. Daily imports dropped to 534,000 barrels in August, while available stockpiles in Asian waters have halved to around 30 million.
Reported by Reuters · How we write briefs