Oil Prices Inch Up on Fed Rate Cut Outlook

OIL PRICE - SINGAPORE. Oil prices edged up in early trade on Monday amid expectations of a U.S. interest rate cut this week, though gains were capped by weaker China data and persistent demand worries.

Brent crude futures for November were up 3 cents at $71.64 a barrel at 0402 GMT. U.S. crude futures for October were up 16 cents, or 0.2%, at $68.81 a barrel.