Oil prices advance as China ramps up U.S. crude imports

SINGAPORE (Reuters) – Oil prices rose on Monday as China’s plans to ship in large volumes of U.S. crude in August and September outweighed concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies.

U.S., November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus Mordant/File Photo

Brent crude LCOc1 added 30 cents, or 0.7%, to $45.10 a barrel by 0410 GMT, while U.S. West Texas Intermediate crude CLc1 was up 34 cents, or 0.8%, to $42.35 a barrel.


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