China’s Ministry of Commerce has issued a blocking order preventing Chinese companies from complying with U.S. sanctions on Iranian petrochemical firms. The move directly challenges Executive Order 13902 and targets companies like Hengli Petrochemical, escalating U.S.-China tensions amid Washington’s “Economic Fury” campaign.
Market pricing now places the odds of Donald Trump visiting China at below 1% for upcoming dates. The probability of a U.S.-Iran nuclear deal by May 31 stands at just 15.5%, with analysts believing Beijing’s defiance further complicates diplomatic efforts.
Geopolitical risks are expected to support WTI crude oil prices, though no immediate pricing shifts have been recorded.