Oil prices in China reached record levels Wednesday as disruptions linked to the escalating Middle East conflict spilled into the world’s largest crude-importing market.
Concerns have grown that prolonged disruptions involving Saudi Arabia and Yemen’s Houthis could tighten global supplies and push prices higher.
China had helped restrain oil prices earlier in 2026 by significantly reducing crude imports, but analysts say Chinese demand is now recovering. The increase in buying could add pressure to an already uncertain market if regional supply disruptions continue.
The United States has also chosen not to intervene directly after meeting with Houthi representatives, a decision that has prompted debate over the security of important regional shipping and energy routes.
With China increasing its oil purchases while Middle East supply remains vulnerable, traders are closely watching both regional developments and Beijing’s import demand for signs of further price pressures.
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— FT China (@ftchina) September 16, 2026
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