China increases purchases of discounted Iranian crude amid U.S. sanctions. Crude oil reaching a new all-time high by December 31 at 12.5% YES.

China cuts oil imports by 5.5 million barrels per day, causing a $30 drop in prices. New all-time high by September 30 at 2.1% YES.

Washington has intensified its efforts to clamp down on Chinese purchases of Iranian oil since Trump returned to the White House last year.