By Barbara Kollmeyer and Carla
Mozee, MarketWatch

MADRID (MarketWatch) — U.S. futures for crude oil rebounded from earlier losses on Monday as upbeat manufacturing data from Europe helped compensate for lackluster data from China, the world’s second-largest economy.

Weak China data help send crude-oil futures lower Monday.
Crude for August delivery CLQ3 +0.68% rose 48 cents, or 0.5%, to $97.05 a barrel in electronic trade. Gains came alongside higher U.S. stock futures and as the dollar continued to move up against the yen.

Oil gathered some momentum after European data showed gains for manufacturing activity, as measured by purchasing managers survey indexes. Only Germany’s PMI was revised down. That data also helped boost Europe stocks.

Oil was dinged earlier after separate surveys showed further slowing in Chinese manufacturing activity in June.

The report from the Chinese government showed the manufacturing Purchasing Managers’ Index (PMI) dropped to 50.1 from 50.8 in May. A separate survey from HSBC showed its own monthly PMI declining to 48.2 in June from 49.2 in May.

A reading below 50 shows a deterioration in activity, while one above signals an improvement.

“Anecdotal evidence suggested that reduced client demand, particularly from Europe and the U.S., led to fewer new export orders,” HSBC said in a statement on the PMI data.

Indications of economies slowing in China and in other countries worldwide, along with high inventory levels of U.S. crude stockpiles, hurt oil prices during the second quarter, resulting in a decline of 0.7%.

Energy investors are due to get updates on manufacturing activity from the U.S. later Monday. But the most anticipated report of the coming week — U.S. jobs figures for June — is due Friday.

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August futures for Brent crude UK:LCOQ3 +0.69% rose 53 cents, or 0.5%, to $102.69 a barrel. Brent futures on Friday wrapped up June with a gain of 2% but declined more than 6% on the quarter.

Natural gas for September delivery NGU13 +0.03% was flat at $3.56 per million British thermal units.

August heating oil HOQ3 +0.94% held steady at $2.86 a gallon, while August gasoline RBQ3 +0.66% rose 2 cents, or 0.8%, to $2.73 a gallon.

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @MWBarbaraKollmeyer.
Carla Mozee is a reporter for MarketWatch, based in Los Angeles. Follow her on Twitter @MWMozee.