Crude-oil prices were lower in London trading Monday amid ample supply, but Chinese demand increases could be on the horizon. Brent crude for March delivery was down 23 cents, or 0.2%, at $106.25 a barrel on ICE Futures Europe. U.S. crude-oil futures were down 67 cents at $93.70 a barrel on the New York Mercantile Exchange. Brokerage PVM said that with threat of tension emanating from Iran lessened, “concerns of a potential global oil shortage this year are more than matched by concerns of a huge excess.” Monday marks the beginning of the lifting of sanctions against Iran, though it will still not be able to begin exporting its crude freely for at least six months. There has also been concern that a slowing economy in China, one of the largest global consumers of crude, would continue to have a depressing effect on demand. Chinese “implied […]