China taps commercial oil stocks to help weather Iran war shock
Beijing has drawn 1.9 million barrels a day from commercial stockpiles operated by Sinopec and PetroChina amid uncertainty around the Strait of Hormuz; crude imports in the first half of June were down 12% from May. Weaker downstream demand makes the impact of the drawdown bigger than expected.
Straits Times Business4 h agoSNP PTR BZ=F