Oil prices make slight rebound, but demand figures lower

Crude oil prices were down early but ended up higher on Monday.

West Texas Intermediate for September delivery on the New York Mercantile Exchange gained 35 cents by the end of trading to $59.00 per barrel, but it had trades as low as $57.65 per barrel earlier in the day.

Brent crude September contracts were up 28 cents in London to $57.86, while it was up 45 cents at the close to $57.90 per barrel in New York by the close of trade.

Heating oil gained 2 cents to $1.65 per gallon, but unleaded gas lost 1 cent to $1.68 per gallon. Meanwhile, there was new monthly oil trade data out of China.

June figures showed that demand was up there by only 0.7 percent in June.

Further data showed that implied demand was only up by an annualized 2.6 percent in the first half of the year, well below the 5 percent expected.

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