Oil rises as supply concerns offset weak China data

Oil prices in Asian trade rebounded following a more than 3% drop in the previous session. This rebound was driven by concerns over potential supply disruptions in the Middle East, despite disappointing economic data from China. December Brent crude futures, set to expire on Tuesday, rose by 0.74% to reach .10 a barrel, and the more actively traded January Brent crude futures increased by 0.73% to .98. Meanwhile, U.S. West Texas Intermediate crude also saw a gain, rising by 0.81% to .98. The market's future trajectory depends on developments in the Middle East and concerns over Iranian oil flows and Venezuelan exports.