China keeps Iranian oil moving through Hormuz as war reshapes trade

In early March, a Chinese-owned oil tanker moved through the Strait of Hormuz. It is one of just three vessels to pass through the strait that day. Only one of them — carrying Iranian crude — is bound for China. The transit is uneasy. The waterway, already one of the most sensitive in the world, has tightened under the pressure of the war in the Middle East. The conflict, following US strikes under Donald Trump and involving Israel under Prime Minister Benjamin Netanyahu, has escalated, adding new pressure to already fragile global energy markets. Around 20 per cent of global…