China’s imports of crude oil rose 11.7% in the first half

Data from China’s General Administration of Customs showed today, Thursday, that the country imported 282.1 million tons of crude oil in the first six months of 2023.

This represents an increase of 11.7% over the 252.52 million tons imported in the same period last year.

On the other hand, oil prices rose in early Asian trading today, Thursday, after inflation and economic data in the United States raised hopes for a slower pace of the Federal Reserve raising interest rates in the world’s largest economy.

Brent crude futures rose 6 cents to $80.17 a barrel by 00:04 GMT, and US West Texas Intermediate crude futures rose 4 cents to $75.79, according to Reuters.

US data showed on Wednesday that consumer prices rose slightly in June, recording the smallest annual increase in more than two years.

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