EconomyThe Iran War Revealed China Has a New Oil Weapon
When the Strait of Hormuz was first closed, many observers forecast that oil would surge to $200 a barrel. Bloomberg Opinion columnist Javier Blas examines why that dramatic price rise did not occur. The analysis links the Iran war with a newly visible form of Chinese leverage in the oil market. It focuses on the gap between expectations and the market’s actual response to the closure.
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Bloomberg News★★★★☆2026-08-06 09:30Original
The Iran War Revealed China Has a New Oil Weapon
Economy