Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
We all know by now... China isn’t exactly panicking over a Strait of Hormuz blockade.
Before any conflict, their oil imports were already diversified.
~14% from Saudi Arabia, 11% from Iran, 29% from the rest of the Middle East, 20% from Russia and the remaining 26% from elsewhere.
So they were never overly dependent on one source to begin with.
Even now, Iranian oil hasn’t completely stopped flowing to China, which already puts them in a stronger position than most Asian countries.
Yes, they’ve still taken a hit by losing around 20% of total oil imports is real pressure.
Saudi Arabia and the UAE have rerouted crude through alternative channels
And more importantly, China has spent the last decade preparing for this exact kind of scenario by building over 1B barrels in strategic reserves.
So even if Iranian supply stopped completely for two months, it would only cut into about 10% of those reserves.
Source: @KobeissiLetter