Oil prices increased by 1% on Monday, receiving support from strong data from China's industrial sector, the world's largest crude oil importer. As official data showed on Saturday, activity in the Chinese manufacturing sector accelerated at the fastest rate in three months in February. New orders and sales volume growth reached significant increases. The price of Brent crude rose by 75 cents or 1.1% to $70.51 a barrel. In the first session of March, the price increased by 76 cents or 1% to $73.57 a barrel. These data indicate optimism regarding demand for fuel, despite uncertainty in economic growth due to potential American trade sanctions.
