Brent oil prices rise to $ 85 a barrel

Oil prices rose today on positive news from the Chinese private sector, after touching its lowest level in nearly a month during the previous session, due to concerns about the weakness of the global economy.

By 06:19 GMT, Brent crude rose 0.53% to $ 58.57 a barrel, while US crude, West Texas Intermediate, rose 0.63% to $ 54.28 a barrel.

Oil prices tumbled to their lowest level in nearly a month on Tuesday, after data showed that US factory activity contracted in August, for the first time in three years, and the manufacturing sector in the euro zone contracted for the seventh month in August this year.

But global markets rose on Wednesday, after a private survey showed that China's private sector activity grew last month at the fastest pace in three months as new orders surged, spurring the biggest increase in employment in more than a year.




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