U.S. crude rises $1 on China data, weak dollar

NEW YORK, Sept 1 (Reuters) - U.S. crude oil futures prices rose $1 on Wednesday as healthy economic data from China, soaring Asian auto sales and a weak dollar helped oil bounce after a more than 3 percent slump in the previous session.

Strong equities helped fuel oil's rise. U.S. stock futures trimmed gains [.N] but were able to stay positive despite data showing private employers unexpectedly cut 10,000 jobs in August.

On the New York Mercantile Exchange, October crude CLV0 rose 92 cents, or 1.28 percent, to $72.84 a barrel by 8:38 a.m. EDT (1238 GMT), trading from $71.67 to $72.92. (Reporting by Robert Gibbons; Editing by John Picinich)