Oil up in anticipation of China's economic recovery

Global oil prices are on rise on Monday morning as investors are waiting for China's economic recovery, Report informs, citing trading data and analysts' comments.

Brent's October futures gained 0.62% rising to $85.33 per barrel and WTI's futures with the settlement in October went up by 0.66% to $81.19.

Markets have recently been watching the economic situation in China with concern. The recent macrostatistic data for the country were weaker than expected, with traders watching the country's real estate market in separate. According to experts, China's economic recovery is essential for the further rally of oil prices.