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China's oil imports plunge 41%, to a nearly 10-year low - China's crude oil imports plummeted in June to a nearly decade-low amid the Gulf War and a sudden slowdown in domestic demand.
Oil at $120: will this force the Bank of England to raise rates? - The Bank of England is likely to keep interest rates unchanged at its meeting on July 30, despite rising energy prices, according to a research note from ING Economics published on Monday.