China’s Oil Reserves Helping Stabilize Global Gas Prices Amid Geopolitical Tensions
China's strategic oil reserves of 1.4 billion barrels have helped limit the rise in global gas prices despite recent geopolitical tensions, including Iran closing the Strait of Hormuz and subsequent military actions by U.S. forces. However, this buffer is expected to fade as China’s August import data becomes available.
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Topics: China gas prices geopolitical tensions oil reserves Strait of Hormuz closure