PT Rifan Financindo - Oil prices extended gains for a second session on Wednesday after a strong jump in manufacturing in China, the world's top crude importer, boosted the outlook for global fuel demand.
Brent crude futures for May rose 46 cents, 0.6%, to $83.91 a barrel at 0445 GMT. U.S. West Texas Intermediate (WTI) crude for April gained 42 cents, or 0.6%, to $77.47 a barrel.
Oil prices continue to be supported by expectations for a strong rebound in demand in China, the world's second-largest crude consumer.
Data showed China's factory activity rose for the first time in seven months in February, according to the purchasing manager's index (PMI) published by Caixin/S&P Global on Wednesday.
Official government PMI data also published on Wednesday showed the fastest expansion in manufacturing since 2012 occurred in February.
However, the strong demand signal was offset by signs of rising crude stockpiles in the United States, the world's biggest oil consumer and producer.
Source : Reuters, rfbnews
PT Rifan Financindo
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