China's Iranian Oil Discount: A Stockpiling Strategy

China's buying Iranian oil at a massive discount, despite US sanctions! Traders are seeing discounts of over $6 per barrel compared to Brent crude, a huge jump from earlier this year. Even with sanctions hitting key Chinese oil ports and refiners, massive stockpiles are building up, and teapot refiners keep buying cheap Iranian crude. China's oil-buying spree is adding a million barrels a day to reserves and could continue through 2026, shaking up global oil markets. Hosted on Acast. See acast.com/privacy for more information.