Oil spikes, as Trump issues sanctions/tariffs/blacklists on China's mainland refineries for purchasing Iranian oil, at the cusp of the Gaza ceasefire.

 

Yes, this would be Trump's and Israel joint initiative in reining in Iran by cutting off their oil revenue, whilst punishing China for buying Iranian oil, as the Gaza ceasefire deal, at least stage 1 begins between Hamas and Israel, which is a prisoner swap.  Which one must remember, Trump uses an antiqued diplomacy trigger fueled by coercion, threats and 'bully' tactics to push a country to the negotiating table, history teaches that it usually backfires, but, that has been his policies since he was re-elected. 

News: 

• US imposes sanctions on China refinery, others for Iran oil  purchases - Reuters

• US sanctions dozens of people, companies, ships over links to Iran oil exports - Times of Israel

• US slaps sanctions on China refinery, other firms over Iran oil imports - Baird Maritime