Oil prices rise on China data

Oil prices gained Monday on robust Chinese trade figures.

China's exports jumped 7 percent year on year in May following a 0.9-percent increase in April and sharp declines in March and February, while imports fell 1.6 percent in May, China's customs data showed on Sunday.

In the United States, nonfarm payroll employment increased 217, 000 in May, the fourth consecutive month of job gains above 200, 000. The unemployment rate stayed unchanged at 6.3 percent, the Labor Department said Friday.

Moreover, the Japanese economy expanded at an annualized rate of 6.7 percent during the first quarter of this year in inflation- adjusted terms, up from an initial reading of 5.9 percent released in May, the Japanese government said Monday.

China, the United States and Japan are the world's biggest energy users and any signs of improvement in these economies lifted oil demand expectations.

Oil prices were also supported by concerns that accelerating tension in Libya will disrupt supplies.

Light, sweet crude for July delivery moved up 1.75 U.S. dollars to settle at 104.41 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery gained 1.38 dollars to close at 109.99 dollars a barrel.