Oil prices recoup early losses on China hopes, global supply fears

TOKYO (Reuters) -Oil prices rose on Thursday, recovering from early losses, on hopes that planned easing of restrictions in Shanghai could improve fuel demand while lingering concerns over tight global supplies outweighed fears of slower economic growth.

Brent crude futures for July were up $1.32, or 1.2%, at $110.43 a barrel at 0700 GMT, after falling by more than $1 earlier in the session.

U.S. West Texas Intermediate (WTI) crude futures for June rose 62 cents, or 0.6%, to $110.21 a barrel, recovering from an early loss of more than $2. WTI for July was up $1.33, or 1.2%, at $108.26 a barrel.

Front-month prices for both benchmarks fell about 2.5% on Wednesday.