Oil at the highest level in 2019 thanks to Chinese data

Oil prices hit Tuesday their highest level in the last five months, boosted by good Chinese economic data, which eased concerns about demand as well as potential new sanctions against Iran.

At 15:36 GMT, Brent crude, a global benchmark, rose 15 cents to 69.16 dollars a barrel, after reaching $ 69.50, its highest level since mid-November.

US crude forward prices rose 14 cents to $ 61.73 a barrel after breaking the $ 62 mark for the first time since early November.

The rise in oil prices came after positive data from the second-largest economy in China, according to which the Chinese manufacturing sector returned to unexpected growth in March, for the first time in four months.

As a result, most Asian equity markets have increased, with investor confidence being strengthened.

Source: Reuters