China July OIL demand up 2.4% year on year: Platts ( CLV2 ) (by Myra P. Saefong)

SAN FRANCISCO (MarketWatch) -- According to a Platts analysis of recent Chinese government data released Wednesday, China's apparent oil demand climbed 2.4% in July compared with a year ago, marking a rebound from June which showed the first year-on-year monthly contraction in more than three years. Demand rose year on year to 38.92 million metric tons last month, Platts said. Apparent demand in July for gasoil, which is the biggest component of China's oil product mix, fell 1.3% from a year ago, fueling a decline in July's daily import average to the lowest since October 2011, said Platts, citing the customs data. "Gasoil has been the laggard so far, with apparent demand contracting two months in a row due to the slowdown in industrial activity," said Song Yen Ling, Platts senior writer for China. At last check, October crude oil (clv2) tacked on 27 cents, or 0.3%, to $97.11 a barrel in New York.