Oil prices increased by 1% on Monday, boosted by strong data from China's manufacturing sector, the world's largest importer of crude oil, which raised optimism about fuel demand. This comes despite ongoing uncertainty regarding economic growth due to potential U.S. tariffs.
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According to Bloomberg news agency, Brent crude rose by 76 cents, or 1%, to $73.57 per barrel, while West Texas Intermediate (WTI) increased by 75 cents, or 1.1%, to $70.51 per barrel.