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China demand drives Singapore oil storage sales to 11-month peak

Friday, April 21, 2017 - 05:50

There are fears that China's surging imports may lead to a fuel overhang as its refiners produce more than the market can absorb.


CRUDE oil sales from storage tanks around Singapore rose to an 11-month high in March, with nearly half of the volumes going to China and traders clearing inventories ahead of record shipments to Asia expected to arrive in April.

Traders sold a total of 22.6 million

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