Oil falls on supply concerns; pickup in China manufacturing helps | GulfNews.com:
"Oil stayed in the red on Monday on supply concerns despite partly recovering from earlier losses after a private business survey showed an improvement in China's manufacturing sector in February.
Brent and US crude futures fell about 1 percent early on Monday, after their first monthly rise since June, as surplus oil supply outweighed Beijing's efforts to support the world's second-largest economy.
"The key drivers over the next few months are going to come from supply dynamics more than demand dynamics," said Ric Spooner, chief analyst at CMC Markets in Sydney."
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