Oil prices rise as China factory bounce boosts demand outlook.
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.
