Oil prices were stronger today erasing yesterday’s losses as China’s economic recovery seems to be picking up steam. The market is expecting positive results from factory activity data in China. “China’s economic recovery will drive its demand for commodities higher, with oil positioned to benefit the most,” JPMorgan analysts said in a client note. Reuters reported that Russian exports to China rose in February from the previous month. Gains were capped by the threat of more U.S. rate increases after stronger-than-expected new orders for core U.S. capital goods in January. WTI traded up $1.37 or 1.8% to close at $77.05. Brent traded up $1.44 or 1.8% to close at $83.89