Brent rises to highest level in five months
Encouraging Chinese data lifts the market, even as global demand struggles to return to pre-Covid levels
London — Oil rose on Monday, with Brent touching the highest in five months, underpinned by a 30% cut in Abu Dhabi crude supplies and encouraging Chinese data even as global demand struggles to return to pre-Covid levels in a well supplied market.
Brent crude futures for November advanced to $46.50 a barrel by 8.53am GMT up 69c, or 1.5%. US West Texas Intermediate crude was at $43.48 a barrel, up 51c, or 1.2%...