As Mideast hostilities resume, all eyes are on China, which has become the world's "swing consumer" with its robust inventories and measured crude purchases.

A shift in fuel consumption, flush inventories and thin refining margins have provided a buffer against Gulf supply disruptions

China cuts oil imports by over 40% amid Iran war, stabilizing prices. Crude oil reaching a new all-time high by September 30 at 5.8% YES.