Iranian, Russian Crude Premiums Slide as China Pulls Back on Imports | HappeningNow.news
Published Date: June 04, 2026

Energy

Iranian, Russian Crude Premiums Slide as China Pulls Back on Imports

Weak demand from Iran’s top crude buyer, China, has dragged Iranian flagship oil prices into discounts to ICE Brent for the first time in…

Source OilPrice Updated 2h 07m ago AI Summary

AI Summary

Weak demand from Iran’s top crude buyer, China, has dragged Iranian flagship oil prices into discounts to ICE Brent for the first time in two months, trade sources told Reuters on Thursday. Demand for Iranian oil in its biggest export market has waned in recent weeks, as imports in China slump to multi-month lows and the independent refiners, the so-called teapots that buy the bulk of Iran’s oil, reduce run rates. This has dragged the price of Iranian Light crude to discounts ranging from $0.50 to $1 per barrel to ICE Brent for delivery…

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