Brent hits $71, highest since March, on demand prospects

London: Oil prices rose on Tuesday, with Brent hitting $71 and trading at its highest since March, as expectations grew for increased fuel demand during the summer driving season in the United States, the world's top oil consumer.

Prices were also boosted after data from China showed that factory activity grew at its fastest this year in May. Brent crude futures for August gained $1.60, or 2.3%, to reach $70.92 a barrel by 0911 GMT. U.S. West Texas Intermediate crude for July was at $68.32 a barrel, up $2, or 3% from Friday's close, with no settlement price for Monday because of a U.S. public holiday.