KONTAN.CO.ID - SINGAPORE. Oil prices rose on Tuesday as the Chinese economy grew faster than expected, while heightened tensions in the Middle East also kept markets on edge after Israel said it would respond to Iran's weekend missile and drone attack. Brent futures for June delivery rose 48 cents, or 0.5%, to $90.58 a barrel by 0437 GMT. U.S. crude futures for May delivery rose 49 cents, or 0.6%, to $85.90 a barrel. The benchmarks rose on the back of solid economic growth in China, the world's biggest oil importer. Official gross domestic product grew 5.3% in the first quarter, year-on-year, government data showed, comfortably beating analysts' expectations.
Oil Prices Rise on Solid China Growth, Middle East Tensions
KONTAN.CO.ID - SINGAPORE. Oil prices rose on Tuesday as the Chinese economy grew faster than expected, while heightened tensions in the Middle East also kept markets on edge after Israel said it would respond to Iran's weekend missile and drone attack. Brent futures for June delivery rose 48 cents, or 0.5%, to $90.58 a barrel by 0437 GMT. U.S. crude futures for May delivery rose 49 cents, or 0.6%, to $85.90 a barrel. The benchmarks rose on the back of solid economic growth in China, the world's biggest oil importer. Official gross domestic product grew 5.3% in the first quarter, year-on-year, government data showed, comfortably beating analysts' expectations.
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