Two Chinese very large crude carriers carrying a combined 4 million barrels of Saudi Arabian oil are heading toward the Bab el-Mandeb strait to exit the Red Sea, shipping data shows, testing whether Houthi forces will enforce a newly announced naval blockade against Saudi shipping despite ongoing regional military escalations. Chinese Very Large Crude Carriers … Read more
Iran and the United States have entered a cycle of direct military escalation following the collapse of a fragile ceasefire. According to the Islamic Revolutionary Guard Corps (IRGC), Iran targeted U.S. military sites in Bahrain and Kuwait on Wednesday, July 8, in response to U.S. strikes on Iranian air defenses and the revocation of oil … Read more
Crude Oil Markets at a Crossroads: Why Chinese Demand is Redefining Global Trade The global energy landscape is currently undergoing a significant shift. In the world’s largest oil-importing market, China, a combination of sluggish domestic demand and thinning refining margins is forcing a major recalibration. Independent refiners—the so-called “teapots” of Shandong—are pulling back, and the … Read more