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Hormuz closure clouds China crude imports after July rise

China’s crude imports fell in July but the decline was smaller than in prior months, even as conflict risks and soft demand raise uncertainty.

Reported · Written up by our desk · Energy

China’s crude oil import trend weakened in July, though the drop was smaller than earlier declines, according to CNBC World.

The outlet linked the overall picture to the ongoing conflict that includes a closure risk around the Strait of Hormuz, which can disrupt supply flows and trading patterns.

Even with imports having risen to a three month high in July, CNBC World cautioned that any recovery may be short lived, given continuing geopolitical disruption and demand that remains soft.

The report frames the month as a test of whether near term trade distortions can offset underlying demand weakness in China’s crude market.

Latest closeWTI crude $78.07 ▲3.8%

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