Oil prices slip as analysts warn of correction after 13 percent gain in the past month


 Oil prices gave away earlier gains on Wednesday as analysts warned of a downward correction after prices have gained more than 13 percent over the past month.
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Oil dips on weak China imports, but Iran sanctions, weak U.S. stocks support

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Oil prices dipped on Wednesday after China reported relatively weak import data, although the market remained well supported by falling U.S. crude inventories and the introduction of sanctions against Iran. www.mcxgoldstar.com 7249938989 9719002865 Front-month Brent crude oil futures ( LCOc1 ) were at $74.50 per barrel at 0651 GMT, down 15 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures ( CLc1 ) were at $69.15 per barrel, down 2 cents. China's July crude oil imports recovered slightly in July after falling for the previous two months, but were still among the lowest this year due to a drop-off in demand from the country's smaller independent, or "teapot", refineries. Shipments into the world's biggest importer of crude came in at 36.02 million tonnes last month, or 8.48 million bpd, up from 8.18 million bpd a year ago, and just up on June's 8.36 million bpd, data from the General Administration of ...
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