Independent “teapot” refiners in China’s Shandong province have scaled back operations as weak demand and a disrupted flow of crude through the Strait of Hormuz erode margins, pushing some plants toward losses estimated at $74–$88 per ton. The pullback raises concerns for global crude benchmarks, with reduced Chinese throughput potentially tempering near-term consumption for Oil – Brent Crude, Oil – US Crude, and related products as the regional conflict drags on.
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Over the past month, Natural Gas has advanced about 10.5%, while Brent has gained roughly 11.2% and U.S. crude is up around 7.1%, reflecting heightened geopolitical risk and supply concerns. Technically, natural gas shows a short-term Hold signal, Brent flashes a near-term Buy indication, and U.S. crude also posts a daily Buy bias, suggesting traders remain positioned for continued price resilience despite softer Chinese refining demand.
Investors can explore more updates, prices, and analysis across global markets at Commodities.