China won’t waste its reserves to cushion oil price impact of Iran war

South China Morning Post South China Morning Post —

Oil prices are set to rise once more as renewed US attacks on Iran leave the Strait of Hormuz, a major artery of oil trade, closed again.

With US strategic petroleum reserves at their lowest in over 40 years, America will have trouble keeping oil prices below US$100 a barrel, as it has mostly done in the war so far.
Analysts warn that sustained oil prices above US$100 risk accelerating inflation, depressing consumption and inviting recession.

They have also turned their attention to China and...

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