China's teapots buy Iranian oil at premiums to Brent for first time in years, sources say - Reuters
China's teapots buy Iranian oil at premiums to Brent for first time in years, sources say Reuters
Coverage by Political Leaning
See how different sides of the spectrum reported this story
Notable Quotes
"In essence, we are jiujitsuing the Iranians."
— Scott Bessent , Executive
"he had agreed to a two-week ceasefire with Iran that was subject to the immediate and safe reopening of the Strait of Hormuz."
— Donald Trump , Politician
"passage through the narrow chokepoint would be allowed under Iranian military management."
— Abbas Araghchi , Politician
"if Iran did not reopen the Strait of Hormuz, he would annihilate the country’s civilian infrastructure."
— Donald Trump , Politician
Key People
Tags
All Coverage
<a href="https://news.google.com/rss/articles/CBMixAFBVV95cUxNa1dReEc0bjM5T0hvcWlpalB4cUxuNW9Pd1R2c3pPTzdDcTJWVF9MVW1iYjFWOFpmRmk1ajQ2ZDB4NTJPaGRJejM1a2RyaW5JVEluQlhGb2NZQjdsUk9Za2ZCTnRtOS1IZnB5aDlXbEl2VnFFWlVYcjlDQUhLQktxQWY3cTREMlJBanVzR1RXTVVRVTc2dkRvMWdNejZnS1BYU0VIdnJuSm1pUFJHR1ZabG9EWEJLX1BYdldqbVRBeGN3SWZP?oc=5" target="_blank">China's teapots buy Iranian oil at premiums to Brent for first time in years, sources say</a> <font color="#6f6f6f">Reuters</font>
Iranian Light crude is trading at a $1 premium to Brent after the US waived sanctions on Iranian oil exports, marking the first positive differential since May 2022.
Chinese independent refiners, known as teapots, have begun seeking prompt cargoes of Iranian crude after oil prices slumped, with Brent crude futures dropping below $100 per barrel.
Following a ceasefire in the Iran-US conflict, China's independent refineries, known as teapots, are seeking prompt cargoes of Iranian crude after oil prices plunged.
Similar Stories
Related coverage based on topic and tags
China's fuel exports edge back towards levels before Iran war as Beijing eases curbs - Reuters
China's fuel exports edge back towards levels before Iran war as Beijing eases curbs Reuters
August 18, 2026 at 04:31 AMIran war a boon for China's e-trucks, fuelling export surge - Reuters
Iran war a boon for China's e-trucks, fuelling export surge Reuters
August 14, 2026 at 10:18 PMOil climbs as fading US-Iran peace hopes raise supply risks - Reuters
Oil climbs as fading US-Iran peace hopes raise supply risks Reuters
August 18, 2026 at 01:13 AMOil extends climb on prolonged Hormuz export uncertainty - Reuters
Oil extends climb on prolonged Hormuz export uncertainty Reuters
August 19, 2026 at 12:39 AMChina surprises oil markets again with a return to stockpiling in July - Reuters
China surprises oil markets again with a return to stockpiling in July Reuters
August 17, 2026 at 01:30 PMUS eyes indefinite Iran naval blockade as oil supply shortfall deepens - Reuters
US eyes indefinite Iran naval blockade as oil supply shortfall deepens Reuters
August 13, 2026 at 10:01 PM