MW: Oil approaches $60 a barrel as China imports rise
Crude-oil futures rose more than 2% Tuesday, approaching $60 a barrel, the highest level in six months, as data showed China's April crude imports jumped nearly 14% from a year ago. Crude for June delivery gained $1.39, or 2.3%, to $59.89 a barrel in early North American electronic trading. Front-month oil contracts haven't ended above $59 a barrel since Nov. 11. China, the world's second-largest oil consumer, increased its imports by 13.6% in April to 16.17 million metric tons, or 3.9 million barrels a day, according to the country's customs department.
