Better manufacturing data from China boosts oil prices
US crude and petrol stocks fell more than expected last week, while distillate inventories rose, API data shows
01 July 2020 - 12:43
London — Oil prices rose on Wednesday on improving factory activity in China and drawdown in US crude inventories, both indicating an economic recovery and rise in energy demand despite surging coronavirus infections around the world.
Brent crude was up 90 US cents, or 2.2%, to $42.17 a barrel at 8.11am GMT, and US crude was up 90c, or 2.3%, at $40.17 a barrel...
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