Investing.com - Crude prices rebounded further in Asia on Thursday as China PMI manufacturing surveys bolstered sentiment on demand prospects.
Crude oil for October delivery on the New York Mercantile Exchange rose 0.45% to $44.90 a barrel. On the ICE Futures Exchange in London, Brent oil for November delivery gained 0.17% to $47.09 a barrel.
In China, the semi-official CFLP manufacturing PMI for August came in at 50.4, entering expansion territory and compared to the 49.9 level seen. The non-manufacturing PMI came in at 53.5, a tad weaker than the 53.9 previously. The Caixin manufacturing PMI for August came in at 50, just at expansion, but missing the expected 50.1 level seen and showing a dip from 50.6 the previous month.
Overnight, prices on the NYMEX fell as U.S. crude stocks rose more than expected at the end of last week with the U.S. Department of Energy showing gain of 2.276 million barrels after a rise of 2.501 million the the previous week.
Gasoline stocks barrels fell 691,000 barrels after a rise of 36,000 the previous week.