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Oil Prices Start the Week With a Gain on Positive China Data
Crude oil prices began trade this week with a gain, driven higher by the latest economic update from China, which showed manufacturing activity expanded at the fastest in three months in February, suggesting a bright demand outlook. Brent crude traded at $73.11 per barrel at the time of writing, with West Texas Intermediate at $70.07 per barrel, both up moderately from Friday’s close. China’s purchasing managers’ index for February rose to 50.2, from 49.1 in January, sparking optimism about oil demand, especially as the reading…