Global oil prices up due to tighter supply, China economy in focus

Global oil prices were up in early trade on Thursday backed by tighter U.S. supply, with a focus on China factory activity due later in the day amid recent weak economic expansion data in the world’s second-biggest economy.

Brent crude futures contract for October and which expires on Thursday was up 14 cents, or 0.16 per cent, at $86 per barrel and the more active November contract was up 10 cents, or 0.12 per cent, at $85.34 at 0039 GMT.

U.S. West Texas Intermediate crude futures gained 10 cents, or 0.13 per cent, to $81.74.