News, views and contacts from the global Offshore industry
 

Brent stays steady over positive US, China data

2 May 2012

Brent crude remained steady above $119 after positive manufacturing data emerged from the US and China, which raised hopes for higher oil demand.

Government data revealed that China's factory sector expanded last month, while US manufacturing growth rose to its highest level in ten months during April.

Brent crude for June fell 14 cents to $119.52 a barrel, while US crude for June slipped by 30 cents at $105.84.

Investors are awaiting a US non-farm payrolls report to be released on Friday, which could ease worries over the economic state of the world's top oil consumer.