Crude price down as Chinese imports fell.

Friday morning GMT, crude futures opens lower on news that China’s net oil imports fell to the lowest level this year. In addition, China’s outbound shipments increased by 1 percent according to the customs bureau, against an foreacst of a 8
percent gain. September opens down 60 cent and below $113 per barrel, according to Norwegian Oil Trading.

Crude futures in London were supported by the ongoing tensions in the Middle East and as the U.S. trade deficit was less than forecasted. U.S. jobless claims, however, fell last week and balanced the market in late trading.

Expected priceband Friday ( Brent 1. pos. ) 111,50—114,00 usd/bbl