Oil prices ended slightly higher on Monday despite rising concerns about global oversupply.
On the data front, the number of rigs operating in U.S. fields increased by 11 to 758 last week, marking the 23rd consecutive weekly increase, oilfield service company Baker Hughes reported on Friday.
Although oil prices rebounded slightly at the start of this week, traders and analysts said there was little fundamental news to justify much of a bounce in oil prices.
The West Texas Intermediate for August Delivery added 0.37 dollars to settle at 43.38 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery gained 0.29 dollars to close at 45.83 dollars a barrel on the London ICE Futures Exchange.
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