China’s crude oil imports surged to 12.14 million barrels per day in June, marking a 7.4% year-on-year increase, driven by a sharp rise in deliveries from Saudi Arabia and Iran, Reuters reported on Monday. The spike reflects both restocking after refinery maintenance and opportunistic buying by independent refiners amid steep discounts on sanctioned barrels. According to China’s General Administration of Customs, cited by Reuters, total imports reached 49.89 million tonnes in June, the highest monthly volume since March. Analysts at…