Oil prices climb as positive China factory data eases demand concerns
Oil prices edged up on Monday after China’s factories unexpectedly ramped up production in September, easing concerns about demand at the world’s largest crude importer amid an ongoing trade war with the United States.
Brent crude futures rose 9 cents to $62 a barrel by 0300 GMT while US West Texas Intermediate (WTI) crude futures rose 13 cents to $56.04 a barrel.
The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) for September expanded for a second straight month as Chinese factories ramped up production and new orders rose, beating market expectations.
