Iran Oil Supply to China Is Rapidly Drying Up
Iranian crude bound for China has nearly dried up under a renewed U.S. blockade, pushing prices higher and forcing refiners to scramble for Russian alternatives.
Iranian crude bound for China has nearly dried up under a renewed U.S. blockade, pushing prices higher and forcing refiners to scramble for Russian alternatives.
Crude oil is climbing as a U.S. blockade cuts off Iranian exports, yet refined product markets suggest futures still aren't pricing in the full risk. Here's what's driving the move.

Saudi Arabia just made its steepest price cut to Asian buyers in decades, but rival Gulf oil exporters are discounting even more. Here is why nobody is winning yet.