Commodities Buzz: Japan crude oil imports rebound

Japan's imports of crude oil rebounded in July to the level before the United States and Israel launched attacks on Iran in late February. Overall imports of the fuel rose 5.5 percent from a year earlier to 12.11 million kiloliters, the first increase in four months. Imports of oil from the Middle East continued to decline, falling around 33% to 7.18 million kiloliters, but shipments from the United States surged over ninefold to 4.39 million kl in July. The value of overall imports of the fuel surged 87.8 percent to 1.41 trillion yen.

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