China is on track to import roughly the same volumes of crude oil in September as it did in August, extending the trend of recovering shipments just as crude oil prices soared to above $100 per barrel again. Kpler’s preliminary vessel-tracking data puts Chinese crude imports at about 7.2 million barrels per day (bpd) for September, about the same as in August, Nikkei Asia reports. The September-arriving crude cargoes were bought at prices well below $100 per barrel, but the gradual recovery of Chinese purchases from the decade-low in June…

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.