Small independent refineries in Shandong province — known as teapots — have given China a flexible buffer against the Iran war oil disruption, processing discounted Iranian and Russian crude outside mainstream channels.
Britain gathers foreign ministers from 40 countries for a virtual summit on reopening the Strait of Hormuz, where Iranian attacks have halted commercial shipping since the war began. The United States declined to attend.
Political division over oil management deepens economic crisis across the country
Drone strikes near the world's busiest international airport and UAE's main oil trading port mark escalation in Gulf targeting
Kyiv launches overnight strikes on energy infrastructure as new military campaign appears imminent
Oil production halted at major fields as rival governments escalate economic warfare