China’s Gulf oil imports rebound in July after Iran ceasefire, but tighter outlook looms

China’s crude imports rebounded in July following a temporary ceasefire in the Strait of Hormuz, though analysts are doubtful the trend will continue as oil prices rise again. Chinese imports of crude from Gulf nations doubled month on month in July in terms of volume, while the value of those shipments rose 60.1 per cent, official customs data showed on Thursday. Purchases from the Gulf – dominated by Saudi Arabia and the United Arab Emirates – accounted for 27.6 per cent of China’s total crude