Oil prices reverse earlier losses on China energy demand concerns | Reuters

Oil prices reverse earlier losses on China energy demand concerns | Reuters

Oil prices rose on Tuesday, recouping earlier losses, as falling temperatures in China, the world's biggest energy consumer, revived concerns about its ability to meet heating demand needs amid power and coal shortages.

Brent crude rose 24 cents, or 0.3%, to $84.57 a barrel by 0541 GMT after falling 0.6% on Monday. The contract is still up nearly 7% this month.

U.S. West Texas Intermediate futures gained 35 cents, or 0.4%, to $82.79 a barrel, having risen 0.2% in the previous session and nearly 10% this month.

Brent fell on Monday after China released growth figures that disappointed the market but with temperatures falling as the northern hemisphere winter approaches and heating demand increasing, prices of oil, coal and natural gas are likely to remain elevated, traders and analysts said.