Thursday, August 22, 2013

China oil demand up 6.6% vs PY

China oil demand up 6.6% vs. year ago: Platts - MarketWatch | China's apparent oil demand climbed by 6.6% to average 9.82 million barrels per day in July compared with a year earlier, according to a Platts analysis of Chinese government data released Thursday. Refinery runs rose 7.1% compared to a year earlier, Platts said, citing data released this month from China's National Bureau of Statistics. "The data in July seemed to be supported by positive aspects of China's economy," said Song Yen Ling, Platts senior writer for China. Oil prices reclaimed the $104-a-barrel level Thursday after better-than-expected Chinese manufacturing data. October crude CLV3 +0.11% traded at $104.27 a barrel, up 42 cents, or 0.4%, on the New York Mercantile Exchange.