China’s crude oil imports rose 6.2% month-on-month to 37.9 million tonnes in August as refiners rebuilt purchasing momentum after the initial supply shock from the Iran war. Volumes were still 23.4% below the same month last year, according to data released Tuesday by the General Administration of Customs. Refiners are expanding sourcing beyond the Persian Gulf, with Russian crude particularly sought after as some seek to reduce exposure to the uncertain Strait of Hormuz shipping route. Greater crude availability helped refined product exports, including gasoline and diesel, jump 29% from July to 6.01 million tonnes. The increase comes as conflicts in the Middle East and Ukraine strain global refining and tanker capacity. Brent crude has gained 1.6% over the past two sessions to around $100 a barrel, while WTI approached $93. Goldman Sachs analysts including Daan Struyven said the market is increasingly pricing in a prolonged Middle East conflict and modestly raised oil-price forecasts on the assumption that shipping disruptions will continue through 2027. Fuel oil supply is also tightening: Energy Aspects forecasts a third-quarter deficit of 218,000 barrels per day, while global inventories at Singapore, ARA and Fujairah are about 30% below the average quarterly level of the past three years. VLSFO (very low sulfur fuel oil), the main marine fuel, has risen 76% in Singapore since the Iran war began, outpacing Brent’s 40% gain. China’s wider commodity trade showed stronger coal and iron ore imports, lower copper concentrate, copper and soybean imports, and increased aluminum and steel exports, while seaborne natural gas demand weakened as war-driven prices rose.