Oil Edges Higher On China Data, But Johnson & Johnson Halt Caps Gains
by Ship & Bunker News Team
Tuesday April 13, 2021 Strong import data from
China resulted in another session of price gains for crude on Tuesday, but hypersensitive traders capped the gains with concerns that the highly-criticized pause on the
Johnson & Johnson vaccine could delay the end of the Covid pandemic and, consequently, economic recovery. Crude imports into China jumped
21 percent in March from a low base a year earlier, as refiners ramped up operations; also, the
Organization of the Petroleum Exporting Countries (OPEC) in its monthly report raised its forecast for 2021 oil demand growth by