Iran’s Oil Crisis and China’s Role | Durham News

Oil prices dip below $70 a barrel for the first time since February, fueled by a shaky truce that reopened the Strait of Hormuz—but the real story is China, now Iran’s sole major buyer, quietly absorbing nearly all of its discounted crude through shadowy refineries. With global demand flat and U.S. sanctions deterring others, Beijing holds the reins, keeping prices low for now. But if the fragile 60-day deal crumbles, expect a sharp spike—making this a tense, China-controlled moment in global energy markets. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/08b1623034bc061e