Oil rebounds but prices likely to remain volatile

Crude-oil futures were choppy in Asian trade Monday ahead this week’s data releases from China and the U.S. Federal Reserve meeting, as markets seek stronger cues on growth in two of the world’s largest economies.

U.S. crude futures for delivery in January CLF5, +0.64%  traded at $58.40 a barrel, up $0.59, or 1% in the Globex electronic session. January Brent crude LCOF5, +0.61%  on London’s ICE Futures exchange rose $0.80, or 1.3%, to $62.40 a barrel.