Oil prices rise on China demand optimism and dollar dip.

Oil prices rebounded on Monday, with Brent crude trading at $82.57/barrel and West Texas Intermediate at $78.67/barrel, as hopes of a demand-led recovery outweighed concerns over the global economy. The growing bullishness is supported by an expected oil supply deficit as OPEC+ production cuts kick in. However, concerns remain over central banks continuing to raise interest rates and weaker-than-expected regional manufacturing data, which could hurt the oil demand outlook.