Oil rises on China record crude imports

Oil prices rose on Thursday after record Chinese crude imports eased concerns that a slowdown in the world’s No.2 economy could stoke an emerging fuel glut.

However, oil markets were held back somewhat after the United States became the world’s top crude producer as its output hit record levels.

Front-month Brent crude oil futures were at $72.27 a barrel at 0800 GMT, up 21 cents, or 0.3 percent, from their last close…

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Posted in: Daily News

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