International crude oil prices rose on August 9, ending four consecutive weeks of decline. Initial claims for unemployment benefits in the US fell for the week ending August 3, announced on August 8. It eased investor concerns about the labor market stability.

China's consumer price index (CPI) increased by 0.5% yearly in July, reaching a five-month high and marking the sixth consecutive month of growth. This rise in CPI exceeded expectations and alleviated market worries regarding China's demand outlook.

West Texas Intermediate (WTI) crude for September delivery increased by US$0.65 (0.9%), reaching US$76.84/barrel on the New York Mercantile Exchange. Brent crude for October delivery rose by US$0.50 (0.6%), settling at US$79.66/barrel.