As the US and Iran negotiate reopening the Strait of Hormuz, China's actions may determine oil market direction.
China cushioned global oil prices by tapping reserves, limiting exports and relying on its electric vehicle fleet.
Analysts warn that a quick reopening could trigger oversupply, with China again crucial to restoring market balance.
AI-generated summary was reviewed by a CNN editor.
As the US and Iran hammer out how to permanently reopen the Strait of Hormuz and restart the flow of Middle Eastern oil, the market’s next move may depend on one country absent from the negotiations: China.
