Crude prices are recording gains for the second consecutive session in the middle of the European session today, Tuesday, June 21 (June), benefiting from the rise in crude imports in the largest consumer of crude in the world China and the lack of global supplies, ignoring fears of a global recession, as US crude (NYMEX) is trading at levels of 110.82 dollars The barrel rose by about 1.15%, while Brent crude rose by about 0.79%, when it was trading at levels of 115.02 dollars per barrel.

The statement issued by the Chinese General Administration of Customs showed that China’s imports of Russian oil increased by 55% in May, reaching 8.42 million tons, replacing Saudi Arabia as the largest supplier.

On the other hand, concerns about Russian supplies, the second largest oil exporter in the world, after the sanctions imposed on trucks and the ban on equipment needed for production, support crude prices, as these sanctions are expected to affect Russian crude production.

The markets are awaiting the US stockpile numbers for the past week, tomorrow, Wednesday, in the preliminary reading from the American Petroleum Institute, before the official figures from the US Energy Information Administration are released Thursday, as the delay in announcing the numbers comes after the holiday yesterday, Monday, marking the Independence Day.