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China’s Teapot Refiners Rush to Secure Iranian Crude as Oil Prices Slide
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Short Term
Article Context
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China’s independent refiners are looking for prompt Iranian crude cargos after Beijing issued the latest batch of quotas for oil imports and after international prices took a plunge following the latest news about the war in the Middle East. Brent crude and WTI are both down, below $100 per barrel, after President Trump announced a two-week ceasefire, with Iran saying it would ensure safe passage for tankers via the Strait of Hormuz. Amid these developments, the so-called teapot refiners are eager to stock up on Iranian crude, unnamed traders…
Original article published by
OilPrice.com
on April 8, 2026.
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