Spot market activity has decreased, with teapot refiners particularly affected. Refining profits have hit multi-month lows, prompting cuts in discounted crude intake. 

China’s oil refiners cut back on crude purchases as weak demand hits margins

Almost 60% of China's oil imports are transported by sea. They must pass via three strategic choke points controlled by the US navy before reaching China. If war breaks out, can the US cut off China's oil supply? Palki Sharma tells you.

Gravitas: Can the US cut off China's oil supply during war?

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China’s oil refiners cut back on crude purchases as weak demand hits margins

Gravitas: Can the US cut off China's oil supply during war?