U.S. manufacturing index rose in April to boost the international oil price rise on May 1.
The same day, the U.S. Institute for Supply Management reported that the April manufacturing index rose 1.4 to 54.8, its highest level since 10 months, also higher than the market prior to the expected 53.0. The data above 50 expansion, shrink below 50, said. U.S. manufacturing expansion accelerated greatly ease the recent market concerns about the slowdown in U.S. economic recovery speed, boost market sentiment, pushing up oil prices.
In addition, China April Purchasing Managers' Index rose to 53.3, marking the highest point of the 13, but also to boost market confidence.
But the oil supply of information to limit the price of oil. Following the Reuters, a survey showed the Organization of Petroleum Exporting Countries (OPEC) April oil output hit its highest level since 2008, is widely expected, soon to be released in U.S. crude inventories will increase for the sixth consecutive week.
To the closing, the New York Mercantile Exchange, light sweet crude for June delivery rose $ 1.29 to close at $ 106.16 a barrel, or 1.23 percent. North Sea Brent crude for June delivery was up 19 cents to close at $ 119.66 a barrel, or 0.16 percent. London and New York oil prices spreads further narrowed to $ 13.5. (Send Tsui)