Oil was higher in Asian trade today after figures showing a rise in manufacturing activity in China, the world’s largest energy user, analysts said.
New York’s main contract, West Texas Intermediate crude for delivery in May, gained 33 cents to USD 103.35 per barrel while Brent North Sea crude for May settlement was up 44 cents at USD 123.32.
Official data released yesterday showed China’s manufacturing activity rose to the highest level in a year in March, energising oil prices, analysts said.
From: http://ping.fm/Z0iYF
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