Oil stays above $86; US, China data eyed

2012-11-1

U.S. crude hovered just above $86 a barrel on Thursday, supported by the restart of some refineries in storm-hit northeast United States while investors await government oil inventory and employment data for price direction.

China, the world's second largest oil consumer, is also due to release its October manufacturing data and if it shows factory activity accelerating at its fastest pace in five months as expected, that could lift oil prices.

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