Oil prices rose on Monday after positive data from China’s manufacturing sector — the world’s largest importer of crude — boosted optimism about fuel demand, despite continued uncertainty over economic growth due to the possibility of new US tariffs.
Brent crude rose 0.4 percent to $73.12 a barrel. West Texas Intermediate crude rose 0.4 percent to $70.06 a barrel. The rise was driven by official data showing China’s manufacturing sector expanded at its fastest pace in three months in February, driven by a surge in new orders and higher sales volumes, which boosted output.
Source (cnbcarabia, edited)
