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Oil held gains on Monday following better economic reports out of the U.S. and China. and the decision to go ahead with an initial public offer for Saudi Aramco.
Brent crude futures were little changed. after surging 3.5% on Friday — the biggest single-day gain since the September drone attacks on Saudi oil infrastructure. The latest U.S. jobs report on Friday showed hiring was unexpectedly resilient in October. while new Chinese manufacturing orders rose at the quickest pace in more than six years. Meanwhile. Saudi Arabia on Sunday finally kicked off Aramco’s long-delayed IPO amid signs it is ready to accept a valuation below its initial $2 trillion target to get the deal away.
