China Oil Hoarding Draws U.S. Criticism as Brent Weakens Over Month

U.S. Treasury Secretary Scott Bessent criticized China for acting as an unreliable partner during the current Middle East conflict, citing oil stockpiling and export curbs on select goods that echo its approach to medical supplies during the pandemic. His remarks raise concerns that China’s actions could exacerbate supply tightness and add volatility to crude benchmarks such as Oil – Brent Crude, with potential knock-on effects for inflation and trade flows.

Over the past month, Brent has fallen about 6.6%, reflecting a partial unwinding of prior risk premiums as markets reassess demand and geopolitical risks. The 1-day technical picture currently points to a cautious stance, with a Hold signal, suggesting traders are waiting for clearer indications on Middle East supply disruptions and China’s inventory strategy before taking more directional positions. Investors can explore more updates, prices, and analysis across global markets at Commodities.