Crude prices advanced by 1% on Monday as US futures wrapped up at five-month peak on projections that the robust in the US economy and Chna will bolster demand, while attacks on Russian refineries and OPEC+ output trims limited supplies.

Brent futures steadied at $87.42 per barrel, while US WTI advanced by 0.7% at $87.48 per barrel.

For a second day, the refining profit margin-gauging U.S. diesel crack spread shrank to its lowest level since May 2023.

The United States had growth in manufacturing in March for the first time in one and a half years, although factory employment remained low due to "sizable layoff activity" and rising input prices.

The Fed's favored inflation indicator, the personal consumption expenditures (PCE) price index, notably decreased in February, according to statistics released by the U.S. Commerce Department last week. The price index measures services other than housing and energy and was mainly modest.

On the supply aspect, due to the strengthening of Middle East benchmarks last month, Saudi Arabia, the world's largest oil exporter, is expected to increase the official selling price (OSP) for its flagship Arab Light crude in May.