Business News

Crude Prices Jump on Positive US, China Demand Outlook

crude prices

By Adedapo Adesanya  Crude prices edged up about 1 per cent on Monday on expectations oil demand will climb following the release of positive economic news from the US and China. Brent futures were up 54 cents or 0.6 per cent to $87.54 per barrel, while the US West Texas Intermediate (WTI) futures rose 71 cents or 0.9 per cent to $83.88 per barrel. In the US, manufacturing grew for the first time in over a year in March as production rebounded sharply and new orders increased. However, employment in factories remained subdued amid “sizable layoff activity” and prices for