WASHINGTON (dpa-AFX) - Oil prices inched higher on Monday on the back of a weaker dollar and hopes of better fuel demand from China, the world's top crude importer.
Benchmark Brent crude futures edged up 0.3 percent to $91.91 a barrel, while WTI crude futures were up 0.4 percent at $84.97.
The dollar dipped on improved risk sentiment as investors awaited clarity on U.K.'s fiscal plan.
British new finance minister Jeremy Hunt will lay out details of some of the government's tax plans later today.
The announcement comes two weeks early after a series of abrupt U-turns by the government on its mini budget failed to calm worries about its economic credibility.
Meanwhile, there are expectations for a stronger fuel demand from China after President Xi Jinping assured steps to boost the struggling economy.
Xi Jinping said on Sunday that Beijing will ramp up spending and stimulus to help shore up economic growth.
In a two-hour speech at the 20th National Congress of the Communist Party of China, Xi said that per-capita GDP would rise to the level of a 'medium-developed country' in a 'giant new leap' by 2035.
That would mean doubling GDP and per-capita income, with an average GDP growth rate of 4.7 percent.
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