BAKU, Azerbaijan, August 21. Offers of Iranian crude oil to Chinese buyers have declined while prices have risen sharply this week, Reuters reported, citing trade sources.
The number of cargoes planned for delivery in September and October has fallen compared with shipments offered for July and August, according to the report.
Trade sources cited by Reuters said part of the decline reflects the sale of barrels that had been shipped earlier, reducing the amount of Iranian crude currently available to Chinese buyers.
The pricing dynamics have also changed. Iranian crude, which has typically been offered at discounts, is now reportedly being sold at premiums as available supplies tighten.
The development comes amid a US blockade targeting Iranian oil shipments. Iran’s crude exports have reportedly declined since mid-July as restrictions on the country’s maritime oil trade have intensified.
China is a crucial destination for Iranian oil, making changes in the availability and pricing of Iranian crude particularly significant for Tehran’s energy exports.
The market shift also comes as US President Donald Trump threatened secondary sanctions on countries continuing to trade with Iran, potentially increasing risks for foreign companies and buyers maintaining commercial ties with Tehran.
