Sensitive Crude Off China Swells to Record as War Roils Market

A record volume of so-called illicit crude is being held on tankers off China’s coast, representing a potential buffer for the country’s private refiners as the war in the Middle...

By Rong Wei Neo, Sarah Chen · Bloomberg Markets

A record volume of so-called illicit crude is being held on tankers off China’s coast, representing a potential buffer for the country’s private refiners as the war in the Middle East disrupts wider flows.