LONDON -- Oil prices rose more than US$2 towards US$80 a barrel on Monday due to weakness in the dollar and signs of buoyant demand from China, the world's second-largest energy consumer. China's imp...

Oil prices rose more than US$2 towards US$80 a barrel on Monday due to weakness in the dollar and signs of buoyant demand from China, the world’s second-largest energy consumer.

Iran was the third major oil supplier of China in the month of October, during which some 1,646,000 tons of crude oil was exported, SHANA news agency reported

BEIJING (Dow Jones)--China's General Administration of Customs Monday confirmed October crude oil imports reached 19.3 million metric tons, close to 4.56 million barrels a day, up 20% from a year earlier.

China's benchmark stock index rose to a 14-week high Monday on hopes for government steps to boost domestic demand, with metals and oil stocks up and banks mixed.

China says it has no plan to decrease its oil imports from Iran -- the world's fifth largest crude exporter.

LONDON, Nov. 23 (UPI) -- Global oil demand has at last turned a corner and is on the rise again after falling for six consecutive quarters, the London-based Center for Global Energy Studies reported Monday.

Crude oil rallied alongside the rest of the commodities sector Monday, spurred by a weak greenback and mitigated concerns about high supply levels in the U.S. after a release on Chinese trade data.

NEW YORK, Nov 24 — Oil prices would threaten a rebound in the global economy if they rise beyond current levels, the chief economist of the International Energy Agency said yesterday. “We would like to see oil prices not to go higher than these levels as it is a certain risk to economic recovery,” Fatih Birol told Reuters. Oil prices have more than doubled from the lows near US$30 (RM102) a ...

By Eadie Chen and David Stanway