WTI Crude zooms around 10% this month, China's crude oil imports rebound 6.2% on month in Aug-26

WTI Crude oil prices surged more than 3% to hit a six-week high as escalating US-Iran strikes around the Strait of Hormuz heightened concerns over potential disruptions to global oil flows. WTI oil advanced above $94 per barrel and has jumped around 10% this month. Meanwhile, China's General Administration of Customs data showed crude oil imports rebounded to 37.9 million tonnes in August, up 6.2% month-on-month. August marked the second consecutive month of month-on-month growth in oil imports.

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