Transits have since collapsed to a trickle with the oil artery effectively shut, pushing energy prices higher. Crude imports fell 24% from a year earlier, according to official customs data compiled by Wind Information, narrowing from June's 41% slump that brought imports to near a decade low. China's crude oil imports climbed to the highest level in three months in July, though the recovery may be short-lived with the waterway shut again and domestic demand still soft. Imports slid to about 29.3 million tons in June, the lowest since October 2016, according to Wind Information, as the war in the Gulf choked off most Middle Eastern supply. China's strategic crude oil inventories reached nearly 1.4 billion barrels as of December 2025, according to the U.S. Energy Information Administration.