Brent crude traded near an 11-week high after a Chinese manufacturing gauge rose, signaling the economy of the world’s second-biggest oil consumer is stabilizing. West Texas Intermediate was near a four-week high after stockpiles fell. Brent was little changed in London after advancing 0.8 percent yesterday. China’s preliminary Purchasing Managers’ Index was 49.7 for May, up from 48.1 the previous month and the highest reading this year, according to HSBC Holdings Plc and Markit Economics. Crude stockpiles in the U.S., the largest oil user, fell by 7.23 million barrels, or 1.8 percent, last week, the Energy Information Administration reported yesterday. “China’s manufacturing is now only barely contracting” and today’s data are a welcome improvement, Harry Tchilinguirian , head of commodity markets strategy at BNP Paribas in London, said by e-mail. “We remain cautious as to whether this is enough to give a significant boost to industrial commodities like oil.” […]