Magnifying previous session’s gains, crude oil futures ended higher on Friday as data showing a fall in U.S. crude stocks outweighed demand worries. Lackluster data on China's factory activity also spurred hopes of more policy stimulus. The data showed that manufacturing activity in China shrank for a third straight month in June, albeit at a slower pace. The manufacturing PMI rose to 49.0 in June from 48.8 a month ago -matching expectations. The non-manufacturing sector continued to expand in June, with the corresponding index falling to 53.2 from 54.5 in the previous month.
Benchmark crude oil futures for August delivery rose $0.35 or about 0.50 percent to settle at $70.21 a barrel on the New York Mercantile Exchange. Brent crude for August delivery gained $0.59 or 0.79 percent to settle at $74.93 a barrel on London's Intercontinental Exchange.