Oil prices struggled in attempts to reclaim the $70 a barrel handle as it faced renewed selling pressure on renewed demand concerns. Having said that WTI was up more than 1% and did trade briefly above the $70 mark.
This shouldn’t be a new topic or a surprise for those of you who have been following my pieces on Oil of late. Chinese Oil imports have been discussed in depth with my original articles hinting at a buildup/replenishment of stockpiles by Chinese authorities. Given the mixed recovery in China the Asian nation still managed to surpass its previous records in term of Oil imports.
