China's teapots buy Iranian oil at premiums to Brent for first time in years, sources say - Reuters

<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>&nbsp;&nbsp;<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.