Oil rises on China's manufacturing prospects

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Source: Bloomberg
© Scanpix/AFP
Oil advanced in New York as a report showed China's manufacturing may accelerate this month. Crude for January settlement rose as much as 71 cents to $86.60 a barrel and traded $86.57 as of 1:33 p.m. in Singapore. The contract declined 88 cents to $85.89 a day earlier. Brent for January delivery gained 49 cents to $108.40 a barrel, while February contract rose 54 cents to $106.99. 
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