:Oil prices rose at the start of Asian trade on Wednesday after industry data showed drawdowns in U.S. crude and fuel stockpiles, raising supply concerns and offsetting worries about slowing demand from top importer China.
The gains come on the back of news from Tuesday that the European Union is working on new sanctions against Russia for waging war on Ukraine that will target Moscow's oil industry. In the United States, crude and fuel stocks fell last week, according to market sources citing American Petroleum Institute figures. Crude stocks fell by 3.5 million barrels for the week ended April 29, the sources said, more than an expected 800,000-barrel drop in a Reuters poll.
The global manufacturing PMI contracted in April for the first time since June 2020, with China's lockdowns a key contributor, Caroline Bain, chief commodities economist at Capital Economics said in a note.
Why are you not reporting on Pfizer data leak? What's our govt position on this? Will my mom gets justice dying 4 days after getting her first vaccine shot? Why is CNA not reporting this?
Can 1% be described as 'climbs'?
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