Oil Rises on Tariff Exemptions and Rebound in Chinese Imports

Oil prices rose more than 1% on Monday after U.S. exclusions on some tariffs and Chinese data showing a sharp rebound in crude imports in March, but gains were capped by concerns that the trade war between the United States and China could weaken global economic growth and dent fuel demand.

Brent crude futures rose by 83 cents, or 1.3%, to $65.59 a barrel by 1246 GMT. U.S. West Texas Intermediate crude was up 81 cents, or 1.3%, at $62.31.

Oil Rises on Tariff Exemptions and Rebound in Chinese Imports