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Chinese newcomers staking a claim to global oil trading

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Federal Reserve Bank of St Louis President James Bullard, one of the most vocal policy makers in recent months arguing to raise interest rates, sounded a more cautious note Thursday by saying the latest decline in oil prices may delay the return of inflation to the central bank's 2 per cent target.

Shanghai

CHINA is forecast to overtake the US as the world's biggest crude importer in 2016 and that's largely thanks to a group of buyers who weren't allowed to purchase foreign oil a year ago.

Record Chinese purchases have been a rare bright spot for global producers amid an