Oil Futures Rebound After Strong China Caixin Manufacturing PMI

0349 GMT — Oil futures rebound, reversing earlier losses, following data that showed the China Caixin manufacturing PMI returned to expansionary territory in May. The recent selloff in oil markets has also spurred speculation that OPEC+ will intervene to support prices, ANZ Research analysts say in a report. Although ANZ doesn’t expect the group to unveil production cuts at the June 4 meeting, the group’s bullish rhetoric is likely to persist. Front-month WTI crude oil futures rise 0.7% to $68.54/bbl; front-month Brent crude oil futures are 0.7% higher at $73.12/bbl. (ronnie.harui@wsj.com)