China April crude throughputs up 0.8% on year WTI front-to-second month contango weakest since January Goldman Sachs lowers US crude supply forecast New York — The oil complex again settled higher Friday as the market eyed stepped-up Chinese crude demand and tightened US supply outlooks. NYMEX June WTI settled up $1.87 at $29.43/b and ICE July Brent was $1.37 higher on the say at $32.50/b. Front-month WTI notched a fresh two-month high, while Brent settled at the highest since April 8. Crude oil throughput at China’s domestic refineries edged up 0.8% year on year to 13.16 million b/d or 53.85 million mt in April, posting the first uptick since the coronavirus outbreak, the country’s National Bureau of Statistics data released overnight showed. “China remains the template for the economic recovery for the rest of the world […]