Oil bounces as China, US data ease recession concerns

Oil prices edged up from multi-month lows on Monday as investors’ appetite improved following data on US jobs and Chinese exports that eased recession concerns.

Brent crude futures had risen 22 cents, or 0.2%, to $95.14 a barrel by 0439 GMT. US West Texas Intermediate crude was at $89.18 a barrel, up 17 cents, or 0.2%.

Both contracts settled higher on Friday after jobs growth in the United States, the world’s top oil consumer, unexpectedly accelerated in July. On Sunday, China also surprised markets with faster than expected growth in exports.