Brent Crude Hits 5-Month High On String Of Bullish News

Oil prices rose on Monday morning, with Brent topping $46.50 in early trading, reaching its highest level in over 5 months.Strong crude demand from China has been one of the most important drivers in the ongoing recovery in oil markets, and in contrast to what many analysts expected, Chinese demand continued to be remarkably robust in July and August.A survey released this morning showed that China’s services sector grew at its fastest pace in over two and a half years in August. The so-called Non-Manufacturing PMI, together with the Manufacturing…