According to CoinMeta, the war in Iran in 2026 and the closure of the Strait of Hormuz once again highlight the risks of global dependence on external energy supplies. During the peak of the crisis, China, as the world's largest importer of crude oil, seemed to be relatively unaffected. Experts point out that over the past decade or so, China has made adequate preparations to cope with disruptions in global oil flows, establishing four major buffers including commodity reserves, petrochemical capacity, low inflation, and energy infrastructure development. Nevertheless, China still relies heavily on imported crude oil and natural gas, especially in industries such as aviation, traditional vehicles, and petrochemicals, where oil is difficult to replace. Experts believe that if the Strait of Hormuz remains closed for an extended period, China's reserves could be impacted, forcing it to re-enter the global market.