Brent oil edged higher after an unexpected surge in Chinese exports to a record added to positive economic signs emerging from key energy consumers. Futures in London rose 0.4% to trade above $72 a barrel, after falling the past two sessions. The growth in China’s exports last month suggests strong demand for goods in the U.S. and Europe. The country’s overall imports also rose to a record in August, and crude purchases climbed to a five-month high, pointing to a revival in Asia’s biggest economy following a recent surge in Covid-19 infections. Oil prices were also supported by continued supply shutdowns in the U.S. Gulf of Mexico following Hurricane Ida. “The market is shaking off the Monday blues,” said Tamas Varga, an analyst at oil brokerage PVM Oil Associates. “The good news is that Chinese exports expanded at an unexpected pace in August.” The fast-spreading delta variant of the […]