Brent crude rose 18 cents at $114.43 a barrel over hopes of more stimulus measures from the US and weak oil data in China, as exports slumped.

Chinese crude oil imports fell by 12.5% compared to the same period in 2011; oil demand dropped to 8.92 million barrels a day.

US crude slipped 11 cents at $96.31 per barrel over news about the release of strategic petroleum reserves by the country and other major international governments, reports Reuters.