After falling for three straight sessions, oil prices rose more than 1% on Thursday as the dollar pulled back from creating higher highs and China's central banks sought to bolster their property market and the broader economy. <br /> <br />Brent Crude Oil prices rose 0.84% to $84.15 per barrel as of Aug 17, 2 PM EST from 83.33 the day prior. <br /> <br />The previous session would see the prices fall more than 1.5% on worries about China's economy and increasing U.S. interest rates. <br /> <br />The turn in market sentiment came after China's central bank announced that it would keep reasonably ample liquidity to support economic recovery even against strong headwinds. <br /> <br />Oil traders appreciate the initiative and proactivity coming from the Chinese government. <br /> <br />That said, U.S. interest rates continue to raise eyebrows. As higher interest rates increase borrowing costs, a slowdown in the economy could stifle oil demand.
