VLCC Hauncayo delivers 2 million barrels of Iranian oil to Yantai amid weak margins
Updated
Updated · Reuters · Apr 29
VLCC Hauncayo delivers 2 million barrels of Iranian oil to Yantai amid weak margins
10 articles · Updated · Reuters · Apr 29
The cargo, loaded from Iran's Kharg Island and transferred twice en route, arrived Monday in China as refining margins hit a one-year low of minus $77 per ton.
Despite U.S. sanctions and tighter scrutiny, Chinese teapots continue importing Iranian oil, though demand is slowing as Iranian crude now trades at a premium to Brent.
China defends its Iranian oil trade as legitimate, with most shipments routed via intermediaries and settled in yuan; at least 140 million barrels remain in transit outside the U.S. blockade zone.
As refining profits vanish, why does Beijing keep buying sanctioned Iranian oil?
How does a Malaysian port enable nearly all of Iran's sanctioned oil exports?
How is the US-Iran oil conflict accelerating the global shift away from the dollar?
With a May summit looming, what is Trump's next move against China's refiners?
What is the hidden environmental cost of the illicit 'shadow fleet' oil trade?
How does Iran's 'shadow fleet' evade satellite tracking and US naval blockades?