China State Refiners Explore Iran Oil Deals After US Waiver

China’s state-owned refiners have begun exploring purchases of Iranian crude, according to people familiar with the matter, after Washington allowed the sale of some oil already loaded onto tankers in an effort to limit price rises due to the Middle East War.

Representatives of National Iranian Oil Co. and traders who act as intermediaries have also been quietly sounding out potential buyers among these and other Asian refiners, the people said. They asked not to be identified as the conversations are not public.