Trade data from China shows January - May crude oil imports are +6.2% y/y

The headline data is here:

• China May trade data, USD terms exports and imports both fell y/y.

Yuan has lost ground:

• Offshore yuan trades lower after disappointing May trade data from China

Oil imports have risen YTD, up 6.2% y/y.

• coal, iron ore, natural gas imports all higher also, copper lower

Oil price with a wee pop: