LONDON: Brent crude oil hit a two-and-a-half month high above $111 a barrel yesterday, supported by better-than-expected data on China’s manufacturing industry and limited oil exports from Libya.
China’s factory sector turned in its best performance in five months in May, a preliminary HSBC survey showed, suggesting a brighter outlook for demand in the world’s No. 2 oil consumer.
Brent crude was up 25 cents at $110.80 a barrel by 1340 GMT, just below a two-and-a-half month high of $111.04 reached earlier in the session. US crude rose 5 cents to $104.12 a barrel. Reuters
