Crude prices steadied not far from seven-year lows on Tuesday as China reported strong commodity imports despite economic weakness, though global oversupply compounded by Opec's decision to keep output high led analysts to predict further we
China's June crude oil imports from Iran rose 26.5 per cent from a year earlier to 2.76 million tonnes, or 671,800 barrels per day (bpd), customs data showed on Tuesday.
On a daily basis, June imports rose 29.6 per cent from 5
Gold fell one percent in thin holiday trade on Monday, heading for its biggest annual loss in more than three decades at nearly 30 percent, as rising appetite for risk and the prospect of a global recovery stole its shine.
Oil rose past $82 on Wednesday after China's imports jumped last month, while a weaker dollar and expectations of economic stimulus by top consumer the US burnished the appeal of commodities for investors.
US crude for November rose 40
Oil fell to below $82 on Thursday on expectations for Opec to keep pumping above quotas in the second quarter, pulling prices down from eight-week highs reached a day earlier.
Falling fuel inventories in the US and the first few weekly gai
Oil reversed earlier losses to gain a few cents towards $82 on Wednesday after China said imports jumped in February, boosting evidence that emerging Asian economies will lead global demand back into growth this year.
China imported 18.5 m
In a new survey of importers from the Middle East, buyers throughout the region indicated they will increase their purchases from China manufacturers in the coming year.
The exclusive survey was conducted by Global Sources, a leading busin