Energy

China surprises oil markets again with a return to stockpiling in July - Reuters

Source: Reuters

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DW NOTE

China bought crude for state reserves in July after a seven-month pause — the first refill since the Hormuz closure strangled supply in late February. Beijing stopped stockpiling in December when oil still flowed freely and has watched prices fall 25% since June while 2,000 ships sit idle in the Gulf. They're filling reserves with oil that can't reach most other buyers.

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The United States has imposed sanctions on a Turkish investment bank and two subsidiaries, accusing them of helping Iran move oil revenue and providing access to the international financial system as Washington intensifies its campaign to squeeze Tehran. The US Treasury Department on September 4 des

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China surprises oil markets again with a return to stockpiling in July - Reuters

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