According to CoinMeta, as reported by ForexLive, China's oil reserves are masking the true extent of the impact of the closure of the Strait of Hormuz. Analysis suggests that China, acting as a buffer for the approximately 5 million barrels per day of supply losses from the Middle East, is suppressing import demand in order to conceal the potential tensions that could arise from the closure of the Strait of Hormuz. It is expected that by September, as the ceasefire between Trump and Tehran breaks down, supplies flowing from the Middle East to China will tighten again. The analysis indicates that China has reserves of around 1.2 billion barrels, which gives it room to maintain lower imports when demand declines.