Crude oil prices today: Brent rises on China's trade rebound, Middle East tensions | 5 key points

Crude oil prices, after edging lower since April-end, seems to be moving back into the upward trajectory. Brent, the global crude benchmark, has surged past $84 a barrel mark with significant increases in two consecutive days.

In the early hours of trading on May 10, the prices of both - Brent and U.S. West Texas Intermediate (WTI) - edged higher in the international market.

The fresh increase comes after crude oil prices reached a one-week high during the trading session on May 9.

Crude oil rises: Here are five key points

• Brent futures for July delivery rose by 46 cents to $84.34 a barrel at 0335 hours GMT on May 10. This was 0.56% higher as against the last closing price.

• WTI futures for June delivery were up by 49 cents or 0.62% to trade at $79.75 a barrel at 03:36 hours GMT.

• The momentum in crude rates, say analysts, is attributable to upbeat trade data released by China on May 9. The country's exports grew by 1.5% in April, as against a slump of 7.5% in March.

• The oil prices were also impacted by China's import numbers, which surpassed the estimates. As against a forecast of 4.8% growth, the imports grew by 8.4%. This signalled a recovery in domestic demand in China, which is the world's second largest oil consumer, analysts said.

• The oil prices were also boosted by the jittery situation in Middle East, in view of an impending Israeli ground offensive in Rafah, the southernmost Palestinian enclave. The military operation is feared to lead to mass civilian casualties, and could push the Gaza war towards a regionwide conflict, experts said, adding that the escalating tensions will put pressure on the commodities market.