Oil prices rose nearly 2% on Monday in volatile trading, bouncing off multi-month lows touched last week, as positive economic data from China and the United States fed hopes for demand despite nagging fears of a recession. Brent crude futures settled $1.73, or 1.8%, at $96.65 a barrel. U.S. West Texas Intermediate crude was at $90.76 a barrel, up $1.75, or 1.97%. Last week, fears that a recession could dent energy demand pushed front-month Brent prices down 13.7% to their lowest since February. It was Brent’s biggest weekly drop since April 2020, and WTI lost 9.7%. Both contracts recouped some losses on Friday after jobs growth in the United States, the world’s top oil consumer, unexpectedly accelerated […]