LAUNCESTON,Australia, Nov 6 (Reuters) - Middle East oil prices may rise relative to other global crudes and physical premiums stand to gain, assuming Asia's major buyers cut purchases fromIran. China,Japan,South Koreaand, to a lesser extent, India have some work to do in order to reduce imports fromIranif they are to satisfy requirements for renewing ...

By Bloomberg Japans crude imports from Iran slumped 63 percent in October to the second-lowest level since the U.S. exempted the Asian nation from sanctions targeting the Middle East countrys nuclear program. Oil purchases fell to 469,024 kiloliters, or about 95,000 barrels a day, compared with 1.28 million kiloliters in October 2011, according ...