Tag: OIL IMPORTS

China’s crude oil imports from Russia fall in April; imports from Malaysia surge

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crude oil

China’s imports of crude oil from Russia fell 12.9% in April from a year earlier, coming in at 8.07 million metric tons or 1.96 million barrels per day, Chinese customs data showed on Tuesday. Russian supply to China also declined 5.8% on a monthly basis, down from 2.08 million bpd in March. Imports from Malaysia, the top trans-shipment hub for sanctioned Iranian oil, stood at 7.95 million tons in April, or 1.93 million bpd, down 6.3% from March, but up 96.9% year-on-year. China’s total crude oil imports stood at 48.06…

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Oil prices climb 1% on US crude and fuel stock draw, Venezuela supply worries

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Oil falls

HOUSTON: Oil prices rose on Wednesday, buoyed by government data showing U.S. crude oil and fuel inventories fell last week and by mounting concerns about tighter global supply following the U.S. threat of tariffs on nations buying Venezuelan crude. Brent crude futures gained 82 cents, or 1.12%, to $73.84 a barrel by 12:11 p.m. ET (1611 GMT), their highest since February 27. U.S. West Texas Intermediate crude futures rose 82 cents, or 1.19%, to $69.82 a barrel. Both benchmarks rose more than $1 a barrel during the session. Oil prices…

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