Sinopec Shuns Iranian Crude Despite U.S. Waiver, Supporting Bullish Oil Tone

China’s Sinopec has indicated it will refrain from purchasing Iranian crude despite a U.S. waiver that permits certain shipments loaded by March 20, highlighting lingering compliance and sanctions-risk concerns for global refiners. The stance could temper expectations for additional Iranian supply hitting seaborne markets and may lend support to international benchmarks such as Oil – Brent Crude and U.S. grades like Oil – US Crude, as traders reassess Middle East risk premia and Chinese demand behavior.

Over the past month, Oil – US Crude has advanced about 47.2%, while Oil – Brent Crude has climbed roughly 56.2%, moves that reflect tightening supply expectations and heightened geopolitical uncertainty rather than purely demand-driven strength. On a one-day view, both benchmarks currently flash a Buy signal for Oil – US Crude and a Buy signal for Oil – Brent Crude, suggesting short-term momentum remains constructive even as policy decisions and sanctions dynamics add event risk for energy markets. Investors can explore more updates, prices, and analysis across global markets at Commodities.