NNA – Oil prices rose on Thursday after falling for three straight sessions, as the dollar weakened and China#39;s central bank sought to bolster the property market and wider economy.
Brent crude futures rose 67 cents, or 0.8%, to $84.12 a barrel, while U.S. West Texas Intermediate crude (WTI) was up $1.01, or 1.3%, at $80.93 a barrel.
Prices fell more than 1.5% in the previous session on worries about China#39;s embattled economy and potential for further increases in U.S. interest rates.
China#39;s central bank said it would keepnbsp;liquidity reasonably amplenbsp;and maintain quot;precise and forcefulquot; policy to support economic recovery against headwinds.
quot;Oil traders like the fact that China isnrsquo;t going to tolerate weakness in economic activity,quot; said Naeem Aslam at Zaye Capital Markets.
Thenbsp;dollar indexnbsp;slipped off a two-month high the day after Federal Reserve meeting minutes left the door open for more rate hikes and data this week indicated a resilient U.S. economy.–Reutersnbsp;
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