By Rowena Edwards
LONDON (Reuters) -Oil prices pared early gains on Thursday as signs of a strong economic rebound in top crude importer China were offset by fears over the impact of potential increases to European interest rates.
Brent crude futures were up 13 cents, or 0.15%, at $84.44 a barrel by 1314 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 19 cents, or 0.24%, at $77.88.
Manufacturing activity in China grew at the fastest pace in more than a decade last month, data showed on Wednesday, adding to evidence of a rebound in the world’s second-largest economy after removal of strict COVID-19 curbs.
China’s seaborne imports of Russian oil are set to hit a record high this month as refiners take advantage of cheap prices.
However, the market was pressured by growing expectations of rate increases by the European Central Bank (ECB) after faster than expected acceleration in consumer prices in France,…
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