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Oil climbs after drone attack in Iran, China's pledge to promote consumption
Oil prices climbed in early Asia trade on Monday, supported by tensions in the Middle East following a drone attack in Iran and as Beijing pledged over the weekend to promote a consumption recovery which would support fuel demand. Brent crude futures rose 54 cents, or 0.6 per cent, to $87.20 a barrel by 0115 GMT while U.S. West Texas Intermediate crude was at $80.22 a barrel, up 54 cents, or 0.7 per cent. Israel appears to have been behind an overnight drone attack on a military factory in Iran, a U.S. official said on Sunday. "It is not really clear yet what's happening in Iran, but any escalation there has the ... (full story)