Oil prices rose for a second day on Wednesday as reports of expanding manufacturing activity in China, the world's biggest crude importer, boosted the outlook for global fuel demand.Brent crude oil for May was up 24 cents, 0.3 per cent, to 83.69 a barrel at 0214 GMT. The April contract expired on Tuesday
Oil prices rose for a second day on Wednesday as reports of expanding manufacturing activity in China, the world's biggest crude importer, boosted the outlook for global fuel demand.
U.S. West Texas Intermediate crude for April rose 31 cents, or 0.3 per cent, to $77.36 a barrel after gaining 1.8 per cent in the previous session. Official government PMI data also published on Wednesday showed the fastest expansion in manufacturing since 2012 occurred in February. U.S. oil inventories rose by 6.2 million barrels in the week ended Feb. 24, according to market sources citing American Petroleum Institute figures on Tuesday.
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