Oil prices rose in early trading on Tuesday after data showed China's manufacturing activity expanded in December, but oil was set for a second annual decline amid concerns about demand in major consumer nations.
Brent crude futures rose 47 cents, or 0.7 percent, to $74.46 a barrel, while U.S. West Texas Intermediate crude gained 49 cents, or 0.7 percent, to $71.48 a barrel. Brent crude has fallen 3.2 percent for the year, while U.S. crude has fallen 0.6 percent.
An official factory survey showed China's manufacturing activity grew for a third straight month in December, albeit at a slower pace, suggesting fresh stimulus is helping to support the world's second-largest economy.
Source (Al-Arabiya.net Website, Edited)
