Iranian Crude to China Slips as U.S. Blockade Bites

Offers of Iranian crude to Chinese buyers have cooled as the U.S. blockade dents Tehran’s shipments, with September–October cargoes trading with smaller discounts or even Brent premiums; floating Iranian crude has fallen to about 80 million barrels, and only roughly 30–40 million barrels remain in Asian waters, signaling tighter supply for late-September deliveries. Chinese independent refiners (teapots) are looking beyond Iran and Russia, while Beijing says sanctions won’t resolve the conflict and Washington looks to widen pressure, highlighting a sharp drop in Iran’s exports since mid-July due to attacks and shipping disruptions.