China's State-Owned Refiners Consider Iranian Crude Amid U.S. Policy Shift

China's state-owned refiners are reportedly exploring the purchase of Iranian crude oil. Bloomberg posted on X that this development follows a recent decision by the U.S. to permit the sale of some Iranian oil already loaded onto tankers. This move is part of an effort to mitigate potential price increases resulting from the ongoing conflict in the Middle East. The decision by Washington marks a significant shift in policy, potentially impacting global oil markets and trade dynamics.