China has just pulled its fuel off the world market, and an already stretched oil market is feeling it. ⛽

Chinese refiners have stopped shipping oil products to every destination except Hong Kong and Macau. The pause stays in place until Beijing says otherwise. Reuters reported the move on Thursday, citing four people briefed on the decision.

Here's what we know:

🔹 The goal is to protect fuel supplies inside China.
🔹 State giant PetroChina scrapped several petrol and jet fuel cargoes planned for October. It had signed most of those deals in the past two weeks.
🔹 Zhejiang Petrochemical, a major private refiner, booked no export shipments for the holiday week.
🔹 China began its week-long national holiday on Thursday without approving exports from its big refiners.
🔹 It is unclear whether exports restart once the holiday ends on 7 October. Sources say that may depend on China's fuel stocks and refinery output.

Why it matters 🌍
Global fuel markets were already short after losing supply from the Middle East and Russia. Attacks linked to the wars in the Middle East and Ukraine have cut refining capacity, tightening diesel supplies in particular. Reuters reports the suspension could push fuel prices in some countries to new highs.

Markets moved quickly. Oil prices rose about 2% on Thursday, with Brent crude trading just above $100 a barrel.

A UBS analyst said the decision points to concern about how much fuel China has available at home.

What's your take: should countries put their own fuel needs first, even when global supply is tight? 👇

#China