(Refiles to correct unfinished sentence in paragraph 6)
* Weak U.S. gasoline demand weighs on WTI
* China H1 crude oil imports rise 10.2 pct on year
* Coming up: U.S. weekly jobless claims at 1230 GMT
By Florence Tan and Theodora D'cruz
SINGAPORE, July 10 Brent crude edged down
towards $108 a barrel on Thursday, extending its longest losing
streak in fours years, as weak gasoline demand in the United
States offset a rise in crude imports in China.
Investors were disappointed with a rise in U.S. gasoline
inventories last week despite being deep into the peak summer
Brent crude had fallen 14 cents to $108.14 a barrel
by 0345 GMT, down for a ninth straight session and matching a
similar losing run in May 2010.
U.S. crude is down for a tenth consecutive session at
$101.81 a barrel, 48 cents below Wednesday's close. The
front-month price is on track to post its longest stretch of
losses since July 1984.
A steeper fall in West Texas Intermediate has widened its
spread with Brent CL-LCO1=R to more than $6 a barrel after
touching the narrowest in nearly a month on Wednesday.
Concerns over supply disruptions in Iraq have eased as
exports from southern Basra continued amid an Islamic
insurgency. Libya has restarted an oilfield which will double
"The geopolitical premium on oil has been taken out. We can
expect oil prices to be stable. For now, it's just noise,"
Gordon Kwan, head of Asia oil and gas research at Nomura said.
"From China, it is quite reassuring. Oil imports went up by
10 percent in the first half and this is supportive to the
Hong Kong-based Kwan expects Brent to trade between $105 and
$115 in the second half of the year.
China, the world's second-largest oil consumer, posted a
10.2 percent rise in crude imports in the first six months this
year, customs data showed on Thursday. Investors expect Beijing
to implement more stimulus measures to support growth which
could lift its fuel demand.
But fuel demand in the United States has been a letdown
despite a gradual recovery at the world's largest economy.
"We expect gasoline demand to pick up, but so far, it has
not surpassed late May or early June levels," Societe Generale's
Michael Wittner said in a note.
Gasoline demand over the past four weeks was at 9.04 million
barrels per day, down 0.4 percent versus the same period last
year, data from the Energy Information Administration showed on
Stockpiles of the motor fuel rose 579,000
barrels, compared with analysts' expectations in a Reuters poll
for a 217,000-barrel drop. Crude inventories fell
2.4 million barrels in the week to July 4, slightly more than
analysts' expectations for a decrease of 2.2 million barrels.
(Editing by Joseph Radford)