Oil prices rebound as China stocks battle back

Crude-oil futures prices made a mild turnaround in early Asia trade Friday but the market remains on edge as fears of more volatility in the Chinese economy are keeping traders cautious.

China has since suspended the mechanism without saying for how long.

The Shanghai Composite Index SHCOMP, +1.97%  opened up 2.3% Friday morning, but the Nikkei NIK, -0.39% fell 0.4% to 17,697.96.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG6, +2.37%   traded at $33.97 a barrel, up $0.70, or 2.1%, in the Globex electronic session. February Brent crude LCOG6, +2.64%  on London’s ICE Futures exchange rose $0.71, or 2.1%, to $34.46 a barrel.

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