Bessent Labels China 'Unreliable Partner' Over Energy Hoarding During Gulf Crisis

US Treasury Secretary Scott Bessent has labeled China an 'unreliable global partner' for the third time in five years, intensifying geopolitical rhetoric. The criticism stems from Beijing's decision to hoard crude oil and refined products during the energy shock triggered by tensions in the Gulf. Despite holding strategic reserves roughly equal to the entire 32-member International Energy Agency (IEA) stock, China refused to participate in global supply release efforts. Bessent highlighted a pattern of behavior, citing China's past hoarding of healthcare products during the COVID-19 pandemic and its recent weaponization of rare earth exports. This escalation from the US Treasury suggests a hardening stance against China's energy and trade policies. Market analysts expect this friction to weigh on global trade sentiment and increase volatility in energy-sensitive instruments.