Crude oil prices edged up on Monday as the border reopened in China, world’s top crude importer, which lifted the fuel demand outlook and partly offset concerns of the global recession.
Brent crude futures rose 90 cents, or 1.2%, to $79.47 a barrel at 0520 GMT, while U.S. West Texas Intermediate crude was up 90 cents, or 1.2%, at $74.67.