In early January, China's benchmark CSI 300 Index hit the highest level in almost five months after foreign investors started showing renewed interest in the markets.
The incident happened in the Arabian Sea, approximately 300 nautical miles off the coasts of India and Oman. The oil tanker was reportedly hit by an airborne object.
According to Nikkei Asia estimates, the foreign investors bought a net 64 billion yuan in the first nine trading days of 2023 compared with only 90 billion yuan investment in the whole of 2022.
According to US government data released in November last year, the country, which has long been known only as the biggest energy consumer in the world, imported only 1.1 million barrels per day of crude oil.
The Yamal-Europe Pipeline usually flows westward, but has been mostly reversed since December of 2021 as Poland turned away from buying from Russia in favour of drawing on stored gas in Germany.
The 622,000 barrel-per-day Keystone line is a critical artery shipping heavy Canadian crude from Alberta to refiners in the U.S. Midwest and the Gulf Coast.