Gold Silver Reports – China’s insatiable appetite for crude is at least one thing oil bulls can count on this year.
The world’s biggest commodity consumer may buy 8 percent more oil from overseas in 2016, taking average purchases to 7.2 million barrels a day, according to the median of seven respondents in a Bloomberg survey including FGE and Energy Aspects Ltd. The country’s inbound shipments in the first 11 months of last year increased 8.8 percent to 6.63 million barrels a day and touched a monthly record of 7.4 million in April, customs data show.
Gold Silver Reports – Crude oil surged after Saudi Arabia cut diplomatic ties with Iran amid escalating tension between the regional powers, buoying energy shares. Japanese equities slid as the yen held near the highest in more than two months, while U.S. equity-index futures advanced.
