Oil Prices Nudge Higher As Upbeat Economic Sentiment Outweighs Oversupply Worries

Oil futures moved up today, Monday as economic prospects in Asia and Europe outweighed concerns of global oversupply.
International benchmark Brent futures rose 3 cents, or 0.1 percent, to $53.56 a barrel by 0658 GMT.At the last trading in March, Brent sold for $52.83 a barrel.
U.S. West Texas Intermediate crude futures climbed 10 cents, or 0.2 percent now sells at $50.70 a barrel after settling 25 cents higher in the previous session. Both contracts spent most of the Asia time zone in negative territory but reversed direction as trading in Europe opened.
That came as manufacturing data showed factories across much of Asia posted another month of solid growth in March, rounding off a strong quarter.

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