Tom Bilyeu

So there is that, but nonetheless, I found it pretty surprising.

China's National Development and Reform Commission adjusts fuel prices every 10 working days based on international crude prices.

And this one jumped by plus 695 yuan per ton of gasoline and 670 yuan per ton of diesel.

And that's the sharpest jump in years.

The last time it jumped this hard was March of 22.

So people saw the headlines calling it the largest jump in years.

They rushed out to lock and load at the old rate basically.

Now the increase took effect at midnight on March 9th local time.

Announcements like this reliably spark these last minute rushes exactly as we're seeing reported by the Chinese state media.

So if they're letting it out, you know it's real.

And various international outlets have also been covering it.

So this one really seems between what's coming out from state-sponsored and Douyin, which is the Chinese TikTok, all these lines really are real.

This is one where I race to be like, all right, Grok, is this all just AI footage or is this something old?

But nope, global oil surged past $100 a barrel and people freaked out.

So it's come back down, at least when we started the live today, it was like 92, 93, something like that.

It dropped under 90 at this point.

Oh, damn.

Okay, so going down.

The market is more optimistic than I, we'll see.

So as we started talking about at the start of the war, China has told their own domestic refiners that they need to halt exports.