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Industry News

Brent Crude Tops $107 After Strike on Iran’s South Pars Gas Field

Brent crude prices rose over 4% to $107.95 per barrel following an attack on Iran's South Pars gas infrastructure and subsequent retaliatory threats against Gulf energy sites. Iranian media confirmed damage at the Asaluyeh refinery, while benchmark crude remained above $100 for four consecutive sessions. Meanwhile, Iraqi pipeline exports partially resumed amid ongoing regional output disruptions and Strait of Hormuz transit constraints.

Industry News

China LNG Imports Fall in September as Middle East War Lifts Prices

China's LNG imports are estimated at 5.3 million tons in September 2026, down 8 percent year-on-year amid high spot prices and Middle East war risks. Chinese state buyers are exploring long-term contracts bypassing the Strait of Hormuz while maintaining binding agreements with Qatar.

Industry News

Chinese LNG Importers Seek Alternatives to Cap Persian Gulf Supply Risks

Chinese state-owned LNG importers are holding discussions to secure alternative supplies that bypass the Persian Gulf and Strait of Hormuz amid shipping disruptions. Kpler data indicates China's September 2026 LNG imports fell 8% year-on-year to 5.3 million tons as spot prices reached $26 per mmBtu. Chinese buyers are not seeking to cancel existing long-term contracts with Qatar, but are capping further transit exposure.

China–UAE News

XPeng Appoints Exclusive Oman Distributor, Expanding Regional Presence Beyond UAE Hub

Chinese electric vehicle maker XPeng has named an exclusive distributor in Oman, marking its fourth GCC market. The company previously entered the UAE in late 2024 through Ali & Sons and maintains a Dubai spare-parts hub with JD Logistics.