Oil Fears: China Returns to Market as Hormuz Tensions Rise

China has re-entered the global oil market. The move comes as growing hostilities near the Strait of Hormuz push prices higher. The Strait of Hormuz is a narrow waterway in the Middle East. About one-fifth of the world's oil passes through it. Any conflict there can quickly disrupt supplies. China is the world's largest oil importer. Its return to buying signals concern over possible shortages. Prices have climbed in recent days. Traders worry that fighting could block tanker traffic. It is unclear how long China will stay in the market. Much depends on whether tensions ease.