China has ordered its oil refineries that purchase crude from Tehran not to comply with or enforce US sanctions on Iranian oil, CNN reports

This development signals a potential escalation in the ongoing tension between the U.S. and China regarding Iranian oil sanctions. By instructing refineries to ignore U.S. sanctions, China is asserting its commitment to maintaining trade with Iran, which could impact global oil supply dynamics and drive up prices for WTI and Brent if market participants perceive a supply shortage.