China can't transition that fast. China has a lot of oil in storage but if the current situation continues or gets worse they are hurt. The US is a net exporter of oil so is okay though some areas use middle east oil and are hurt too.
This will take a long time to play out. Discount every short term prediction as both Iran and the US are forced to play a long game.
This will take a long time to play out. Discount every short term prediction as both Iran and the US are forced to play a long game.