HOUSTON: Oil prices rose more than 1% on Thursday, after falling for three straight sessions, as the dollar pulled back from highs and as China’s central bank sought to bolster the property market and wider economy. Brent crude futures rose 95 cents, or 1.2% to $84.42 a barrel by 12:46 p.m. ET (1646 GMT). US West Texas Intermediate crude (WTI) was up $1.23, or 1.6% at $80.60 a barrel.
The previous session, prices fell more than 1.5% on worries about China’s embattled economy and potential for further increases to US interest rates.
China’s central bank said it would keep liquidity reasonably ample and maintain “precise and forceful” policy to support economic recovery against headwinds.
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