Wall Street may have solved a nagging mystery in global oil markets as doomsday scenarios have yet to arrive | Fortune

How China is quietly calming global oil markets | The National

China cut oil imports from 11M to 9.3M bpd in April, holding Brent at $92 despite 10% of world supply blocked in the Gulf. Its 1.3B-barrel strategic reserve buys buffer, but a prolonged Hormuz closure will force re-entry as a buyer, spiking energy costs globally.