Donald Trump says China may continue purchasing Iranian crude

According to US President Donald Trump's statement posted on social network Truth on Tuesday, China may continue to buy oil from Iran. Such a declaration goes against the official position of the country, which for years has been imposing restrictions on crude exports from Iran.

Trump's announcement caused surprise both in the market and within his own administration. There has been no official comment from the US government yet.

According to insiders who spoke to Bloomberg, the Treasury Department will continue to enforce the related restrictions on Iran. A White House official told the agency that Trump's post was only meant to emphasize the preservation of oil flows through the Strait of Hormuz. Its shutdown could lead to a sharp drop in supplies to China.

The Bloomberg agency also notes that a possible decision to establish a special regime for China could be an attempt by Trump to send positive signals to Beijing. At the moment, the US and China are working on a new tariff agreement. In this regard, such a move might be one of the ways to establish cooperation.

While market participants are monitoring the unfolding of events, Brent and WTI prices remain at subdued levels around $67 and $65, respectively.