China has instructed its major state-owned refiners to temporarily suspend exports of diesel and gasoline, as escalating tensions in the Middle East threaten global energy supply routes. The move comes amid mounting instability around the Strait of Hormuz — a critical shipping corridor through which roughly one-third of the world’s seaborne crude oil passes. Disruptions linked to the growing conflict involving Iran have triggered volatility across oil markets this week. While reports initially suggested China had halted “oil exports,” the directive applies specifically to refined fuel products, not crude oil shipments. The suspension is understood to be a precautionary measure aimed at...