China faces a squeeze on supplies of Iranian crude if Donald Trump ramps up enforcement of sanctions on Iran, according to Reuters.

• Iranian barrels are around 13% of China’s oil imports, Reuters said.
• Trump is expected to re-impose the “maximum pressure” of heightened sanctions against Iran during his second term.
• “A Trump victory may see the United States enforce sanctions against Iran, thereby reducing Iranian oil exports and prompting oil prices higher," Vivek Dhar, a commodities strategist at Commonwealth Bank of Australia, said in a note.
• Teapots might be forced to cut runs further if stricter sanctions enforcement restrict access to both Iranian and Venezuelan crude.
• China’s imports from Iran were up about 30% Jan-Oct despite the sanctions, Vortexa said.
• Iranian oil is typically rebranded by dealers as originating from Malaysia to circumvent sanctions.