Brent stable below $89

Oil drilling rigs

Brent crude was steady just below $89 today, Sept.5, after rising over the past five days with gains of more than 5%.

The international benchmark was trading at $88.95 a barrel, at 08:05 am Makkah time. West Texas Intermediate (WTI) crude rose 0.48% to $85.96 a barrel.

Service activity in China grew at the slowest pace in eight months during August, as the Caixin/S&P Global Services Purchasing Managers' Index for the service sector declined to 51.8 points from 54.1 points recorded in July, a special survey showed.

Meanwhile, commodity trading company Trafigura expects oil prices to rise as interest rates and a lack of investment weigh on the market.