Oil prices extend gains

Singapore
Oil prices climbed in Asia Monday boosted by a weaker dollar and expectations a rise in demand will ease a global supply glut, while investors await the release of key Chinese economic data this week.
Both main crude contracts have rallied since hitting six-year lows in late August, with last week seeing healthy rallies in line with global equities on easing expectations the US Federal Reserve will hike borrowing costs this year, pushing the dollar lower.
A softer dollar makes dollar-priced oil cheaper, spurring demand.
Comments by OPEC secretary general Abdullah el-Badri at the weekend that the cartel sees a "more balanced" oil market next year also provided support.
In late-morning Asian trade, US benchmark West Texas Intermediate for November delivery rose 0.93 percent to $50.09 and Brent crude for November added 0.78 percent to $53.06 a barrel.