Strong economic data from China boosts oil prices!
China's Manufacturing PMI - March With China's manufacturing sector returning to the expansion territory in March, recording the highest manufacturing PMI since September, 2023, the economic outlook of the world's second largest economy depicts a positive picture - at last. The announcement on Sunday by China's National Statistics Bureau on the PMI, was further boosted by the fact that the country's logistic industry showed even better improvement in March; the data released on Tuesday shows that the logistics industry prosperity index rose by 4.4 points to 51.5. That means, Chinese economy shows the signs of recovery while moving past the weathered milestone of stagnation that silently witnessed the interplay of a range of complex factors, some clearly stemming from evolving geopolitical axis, in a relatively short passage of time. The positive indicators in the recent days from China appear to be showing its catalytic effect on the crude oil markets; the price of
