Oil prices reverse earlier losses on China energy demand concerns


Oil prices rose on Tuesday, recouping earlier losses, as falling temperatures in China, revived concerns about its ability to meet heating demand needs amid power and coal shortages.

Brent crude rose 24 cents, to $84.57 a barrel after falling 0.6% on Monday.

U.S. West Texas Intermediate futures gained 35 cents, to $82.79 a barrel, having risen 0.2% in the previous session and nearly 10% this month.

Brent fell on Monday after China released growth figures that disappointed the market but with temperatures falling as the northern hemisphere winter approaches and heating demand increasing, prices of oil, coal and natural gas are likely to remain elevated.

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