Oil prices sour

After China’s factories unexpectedly ramped up production in September, oil prices rose, easing concerns about demand at the world’s largest crude importer amid an ongoing trade war with the United States. Brent crude futures rose 9 cents to US$ 62 a barrel by 0300 GMT while US West Texas Intermediate (WTI) crude futures rose 13 cents to US$ 56.04 a barrel. “The Caixin data was a real surprise and should be positive for Asia’s markets today,” stated Jeffrey Halley, OANDA senior analyst in Singapore.