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  • January 13th, 2016

Oil rises for first time in 8 days as China imports hit record

Crude futures rose on Wednesday for the first time in eight days, with U.S. oil pulling further away from the widely watched $30-per-barrel level breached the previous session, as Chinese data showed record imports in December.

U.S. West Texas Intermediate crude (WTI) was up 26 cents at $30.70 a barrel at 0608 GMT. On Tuesday, it fell 97 cents to close at $30.44 a barrel, after touching a low of $29.93, which was last seen in December 2003.

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