Oil benchmark Brent above $84 a barrel on perky U.S., China demand signals

Source: theglobeandmail.com theglobeandmail.com

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Global benchmark Brent hovered above $84 a barrel on Friday after data this week signaled growing demand in the U.S. and China, the world’s two largest crude users, while festering conflict in the Middle East added support. Brent futures were up 51 cents to $84.39 a barrel at 0956 GMT. U.S. West Texas Intermediate crude was up 57 cents to $79.83. Falling U.S. crude inventories spurred by higher refinery runs coincided with data released on Thursday showing China’s oil imports in April were higher than last year on signs of improving trade activity. China’s exports and imports returned to growth...