Investing.com - Crude oil futures rose on Monday, as ongoing turmoil in Iraq and better than expected Chinese manufacturing data boosted prices.
On the New York Mercantile Exchange, U.S. crude oil for delivery in August tacked on 0.36%, or 39 cents, to trade at $107.22 a barrel during European morning hours.
Elsewhere, on the ICE Futures Exchange in London, Brent oil for August delivery rose 0.47%, or 55 cents, to trade at $115.36 a barrel.
Concerns about potential supply disruptions due to fighting in Iraq lingered, as Sunni militants captured more towns near the borders with Jordan and Syria over the weekend.
Militants from the Islamic State of Iraq and the Levant seized control of a 300,000 barrel-per-day refinery in the northern part of the country last week, fuelling concerns over a disruption to supplies.
Iraq produced approximately 3.5 million barrels a day of oil last month, making it OPEC’s second-biggest oil producer behind Saudi Arabia.
Meanwhile, data released earlier showed that China’s HSBC Flash Purchasing Managers Index rose to a seven-month high of 50.8 in June from a final reading of 49.4 in May. Analysts had expected the index to rise to 49.7 this month.
The Asian nation is the world''s second largest oil consumer after the U.S. and has been the engine of strengthening demand.
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