Oil prices advance as China ramps up U.S. crude imports
- 17th August 2020
- Posted by: Hakeem
- Category: Commodities
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.
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.