oil prices were steady in morning trade on Wednesday after falling for two days on expectations of tighter crude oil supplies and signs that China’s economic recovery is gaining momentum.

Brent, the benchmark for two-thirds of the world’s oil, was up 0.16 percent at $85.60 a barrel at 9:55 UAE time, while West Texas Intermediate, the gauge that measures US crude, was up 0.32 percent rose to $79.12 a barrel.

China’s manufacturing purchasing managers’ index rose to 50.1 from 47.0 in January…

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