Oil prices gain as inventories fall and demand picks up
Oil prices rose on Monday buoyed by falling inventories and hopes of a swifter global economic recovery, although halting vaccine rollouts and renewed travel restrictions capped gains.
Brent crude was up 57 cents, or 1%, at $55.61 a barrel by 1449 GMT. U.S. crude gained 41 cents, or 0.8%, to $52.61. Both benchmarks gained nearly 8% in January.
