Oil prices rebound from new lows

Oil prices rose Monday but not before striking fresh multi-month low points on the back of more poorly received Chinese economic data. Brent North Sea crude for delivery September climbed 58 cents to stand at $49.19 a barrel in London afternoon deals as dealers snapped up cheaper oil. US benchmark West Texas Intermediate (WTI) for September delivery meanwhile gained 25 cents to $44.12 compared with Friday's close.