Oil prices are up in London Monday, buoyed by positive economic data that could lead to higher demand. Brent crude for July delivery was up 0.5% at $109.16 a barrel on ICE Futures Europe. U.S. crude-oil futures were up 0.6% at $103.25 a barrel on the New York Mercantile Exchange. Positive pointers in economic and geopolitical news have been a booting factor, wrote JBC Energy in a note to clients. Japanese gross domestic product is up, Chinese exports have grown and U.S. employment is back at its pre-recession peak, all of which could likely lead to higher oil demand. Chinese data released over the weekend showed the country’s crude-oil imports were 8.9% higher that a year earlier. JBC also notes that “over the weekend, tentative signs of crafting a deal on the Ukraine situation were made.” While this could be bearish for oil prices, there have been some tremors […]