Oil prices fell on Wednesday as Chinese crude imports slipped to their lowest level in a year, although traders said the overall market remains well supported because of OPEC-led supply cuts. Traders said they were closely eyeing escalating tensions in the Middle East, especially between regional rivals Saudi Arabia and Iran. Brent futures LCOc1 were at $63.43 per barrel at 0744 GMT, down 26 cents, or 0.4 percent. The decline follows Brent rising to an over two-year high of $64.65 earlier this week. U.S. West Texas Intermediate (WTI) crude CLc1 was at $56.90 per barrel, down 30 cents, or 0.5 percent, from its last settlement. WTI also marked its highest in over two years earlier this week, at $57.69. China’s October oil imports fell sharply from a […]