China's oil imports hit 7-month high

China’s crude oil imports rose to 9.88 million barrels per day in October, the highest level since March, marking a 9.4% increase from September even as volumes fell 13.3% year-on-year, according to customs data. The world’s largest oil importer saw daily inflows climb despite the annual decline, suggesting a sequential recovery in demand. The rebound matters for global crude markets because China’s purchasing pace heavily influences prices and trade flows. Traders will watch whether the monthly momentum persists into November and whether year-on-year comparisons narrow as refiners ramp up activity.