Trump’s Iranian U-Turn Exposes an Uncomfortable Oil Truth
The US president has reminded the world that his control over trade between Beijing and Tehran is extremely limited.
A crude oil tanker docked at an offshore terminal in the Persian Gulf.
Photographer: Sam/AFP/Getty Images
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Welcome to our guide to the commodities markets powering the global economy. Today, Asia oil trading team leader Serene Cheong looks at the US president’s surprising announcement that China can carry on buying crude from Iran.
Even for seasoned observers of Donald Trump’s White House, Tuesday’s pronouncement was a headscratcher. China, he wrote on social media, “can now continue to buy oil from Iran.”