China halts gasoline and diesel exports amid Persian Gulf tensions
In response to escalating Persian Gulf conflicts affecting global crude oil supplies, China's National Development and Reform Commission has verbally ordered five major refiners—including China National Petroleum, China Sinopec, China National Offshore Oil, China National Chemical, and Zhejiang Petroleum & Chemical—to immediately suspend refined oil exports. Authorities also require refiners to cease signing new export contracts and negotiate cancellation of existing arrangements. However, aviation fuel and bunker oil stored in bonded warehouses, as well as supplies to Hong Kong and Macau, remain exempt.