Oil hovers at $76 after China trade data

TOKYO/SINGAPORE (Reuters) - U.S. crude oil futures hovered at around $76 a barrel on Monday as China's bigger-than-expected trade surplus in June eased worries about a slowdown for the global economic recovery and oil demand.

Chinese exports in June rose 43.9 percent from a year earlier, while crude imports in the world's second-largest energy user rose by a quarter to hit a record high above 22 million tonnes.

Crude for August delivery was trading down 13 cents at $75.96 a barrel by 0445 GMT, after closing last week with a gain of more than 5 percent -- its biggest jump since the week to May 28.

Crude hit an intraday high of $76.48 on Friday, the highest since June 30.