2 hours agoIran War Gives the United States an opportunity to sell energy to China
Periskopi(2 months ago)
(2 months ago)The energy crisis caused by the U.S.-Israel war has given US President Donald Trump an opportunity to sell more American products in China.
The conflict in the Middle East has limited global fossil fuels, as Iran has blocked the flow of maritime trade in the Strait of Hormuz. This is increasing the global demand for oil and natural gas from the US, the world's largest producer of both.
Trump has declared that China is interested in buying more gross oil from the US, to reduce dependence on Middle East energy during the prolonged conflict in the region.
China has large reserves of crude oil and has strengthened supplies through imports from Russia and Iran, helping to ease the supply shock.
The country has also increased the purchase of liquid natural gas (LNG) in recent years, while trying to flee the use of coal, becoming the world's largest importator of LNG in 2021. However, the conflict in the Middle East has interrupted about a third of China's LNG supply.
China virtually banned the import of US LNG in 2025 after Trump imposed new tariffs on Chinese goods. But Reuters reported that this week three LNG ships left the US, apparently towards China, and could arrive by the end of June.
According to the US Energy Information Administration (EIA), US monthly exports of LNG reached a record high of more than 567 billion cubic feet in December. Even monthly exports of crude American oil have stood near record levels reached in 2024, according to EIA data, writes CNN./Periscope/
