* Dollar near 7-month top after robust US jobs data
* China Oct oil imports down 5.7 pct from Sept
By Manolo Serapio Jr
MANILA, Nov 9 (Reuters) - Brent crude futures edged higher on Monday, recovering from a three-day decline, but gains were capped by a firm dollar after robust U.S. employment data fueled bets for an interest rate hike before the year is over.
The dollar held near its loftiest in almost seven months versus a basket of currencies after U.S. nonfarm payrolls jumped 271,000 in October, far exceeding the 180,000 increase that economists polled by Reuters had predicted. USD/
The dollar's strength is likely to extend ahead of a likely rate increase by the Federal Reserve in December, and could be a key drag on prices of oil and other commodities, said Ben Le Brun, market analyst at OptionsXpress in Sydney.
A stronger greenback makes dollar-priced assets more costly for buyers using other currencies.
On the other hand, "the U.S. economy is running on its own steam now and in a position where the Federal Reserve deems that a small interest rate hike is not going to damage confidence in the economy," said Le Brun.
"That should be a positive in terms of demand for crude."
Brent crude for December delivery LCOc1 was up 41 cents at $47.83 a barrel by 0213 GMT, after falling more than 1 percent on Friday.
December U.S. crude CLc1 gained 35 cents to $44.64 a barrel after touching a 1-1/2-week low of $43.83.
Hedge funds raised their bullish wagers on U.S. crude last week by the most in six months, data showed on Friday, as speculators bought into oil contracts in forward months on the bet market fundamentals will take time to improve. urn:newsml:reuters.com:*:nL1N1312CX
Weekend data from China, the world's second-largest oil consumer, showed the country's crude oil imports fell 5.7 percent from the previous month to 26.35 million tonnes in October.
China's imports of other commodities such as iron ore, copper and coal also fell last month as disruptions from the National Day holiday were compounded by slower demand. urn:newsml:reuters.com:*:nL3N13303X