Stronger manufacturing data released by China helped push up crude oil prices on Monday as the globe's second-largest economy showed some signs of improvement, according to Reuters.
Tensions in the oil-rich Middle East also drove the value of the energy commodity higher on the first trading day of the final month of the year. November saw indications about increased manufacturing in the Asian nation, which is the world's second-biggest consumer of oil.
"Crude oil prices are beginning the new week of trading up thanks to positive economic data from China," analyst Carsten Fritsch with Commerzbank told the news source on Monday. "The geopolitical tensions in the Middle East are also playing their part."
At 11:24 a.m. on Monday, WTI crude oil futures climbed 0.21 percent, a 19-cent gain to $89.10 per barrel. Brent crude oil futures dropped 0.24 percent, a 27-cent loss to $110.96 per barrel.
The Wall Street Journal reports the energy commodity was hinging on developments regarding the fiscal cliff in the U.S., which is the world's biggest consumer of oil.
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