Offers of Iranian crude to Chinese buyers declined sharply and prices jumped on August 21, 2026 as US sanctions severed Tehran's oil shipment channels. Trade sources indicated the blockade severely restricted Iranian crude supplies.
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Iranian oil offers to Chinese buyers fall as US blockade bites, sources say Reuters
By Siyi Liu and Chen Aizhu SINGAPORE, Aug 21 (Reuters) - Offers of Iranian crude to Chinese buyers have declined and prices have jumped this week as the U.S. blockade has cut Tehran's shipments, according to trade sources, with the threat of more sanctions from Washington looming. The U.S. re-imposed its blockade of Iran's shipping and ports on July 13 as a deal to halt the war between them broke
Trade sources say Iranian crude offers to China have declined and prices have risen as Washington's blockade disrupts Tehran's oil shipments.