NEW YORK: Oil prices rose about 2% on Monday on positive economic data from Europe, Asia and the United States, but rising COVID-19 cases globally and oversupply worries fuelled by the prospect of OPEC and its allies easing output cuts limited gains.
Brent crude rose 66 cents, or 1.5%, to $44.18 a barrel by 11:32 a.m. EDT (1532 GMT) while US West Texas Intermediate (WTI) crude gained 81 cents, or 2%, to $41.08.
