China’s Energy Imports Plunge as War Chokes Hormuz Shipments

Chinese energy imports fell sharply in April, as the near-halt to shipments through the Strait of Hormuz choked a vital channel for crude oil and natural gas.

Crude cargoes dropped about 20% year-on-year to 38.47 million tons, the lowest since July 2022, while gas fell about 13% to 8.42 million tons, according to Chinese customs data on Saturday. Oil imports were also lower than the previous month, which included shipments that had already begun their journey from the Persian Gulf before the US and Israeli air strikes against Iran on Feb. 28.