Summary Brent North Sea crude for delivery in November climbed 35 cents to stand at $95.02 a barrel.
LONDON (AFP) - Oil prices rebounded on Wednesday following sharp falls the day before, as traders looked ahead to US crude stockpiles data for energy demand indications in the world s biggest economy.
The market s recovery however was capped by the latest data out of China, traders said.
Brent North Sea crude for delivery in November climbed 35 cents to stand at $95.02 a barrel around midday in London.
US benchmark West Texas Intermediate (WTI) for November gained 52 cents to $91.68 a barrel.
WTI plummeted $3.41 a barrel and Brent tumbled $2.53 on Tuesday owing to a supply glut and a pick-up in the dollar, which is sitting at six-year highs against the yen and a two-year peaks versus the euro, traders said.
"The slide in prices was triggered by a combination of weaker US economic data that gave rise to concerns about demand, plus growing OPEC supply," Commerzbank analysts said in a note to clients.
Official data released on Wednesday showed Chinese manufacturing activity stalled in September as leaders struggle to address a slowdown in the world s second-largest economy.
The official purchasing managers index (PMI) came in at 51.5 in September, unchanged from the previous month, the National Bureau of Statistics said in a statement.
Later on Wednesday, the US Department of Energy will publish data showing the levels of commercial crude and gasoline stockpiles in the country.
