Treasury Secretary Scott Bessent said Tuesday that Chinese purchases of Iranian crude have fallen sharply after Washington expanded sanctions on the country's independent "teapot" refiners

China cuts Iranian crude oil imports by 40%. Crude oil reaching a new all-time high by December 31 at 13.5% YES.

China cuts Iranian crude oil imports by 40%. New all-time high for crude oil by September 30 at 6.2% YES.