China is the big wild card in Trump's Iran decision

Trump announces withdrawal from Iran deal

Trump announces withdrawal from Iran deal

President Donald Trump put Iran back in the penalty box on Tuesday — but the impact on the oil market could be determined by how China responds.

China, a voracious consumer of oil, holds great sway because it’s Iran’s biggest customer. Almost one-third of Iranian oil shipments this year have gone to China, according to energy research firm Genscape.