News desk: Oil prices rose in thin trade in early Asian hours on Monday as the U.S. dollar’s strength eased while investors awaited data from China to gauge demand at the world’s top crude oil importer.
Brent crude futures rose 85 cents, or 0.9%, to $92.48 a barrel by 0019 GMT, recovering from a 6.4% fall last week. U.S. West Texas Intermediate crude was at $86.34 a barrel, up 73 cents, or 0.9%, after a 7.6% decline last week, reports Reuters.
Oil found support from a combination of factors, including Chinese President Xi Jinping’s comments at the Party Congress that reassured accommodative policies for the economy, a positive sign for demand outlook, CMC Markets analyst Tina Teng said.
