Wall Street may have solved a nagging mystery in global oil markets as doomsday has yet to arrive
China has quietly emerged as the global oil market’s stealthy swing consumer, potentially holding off doomsday a while longer. For months, investors wondered why crude oil prices failed to reach worst-case scenarios, even as a fifth of the world’s supply remained bottled up in Persian Gulf. To be sure, Saudi Arabia diverted exports to bypass the Strait of Hormuz, economies...









