Oil rises despite fears of a global economic downturn

By Trend

Oil prices rose on Monday despite worries about a global economic slowdown and the ongoing U.S.-China trade war, which has reduced demand for commodities such as crude, Trend reports citing Reuters.

International benchmark Brent crude futures were at $58.75 a barrel by 1340 GMT, up 22 cents from their previous settlement.

U.S. West Texas Intermediate (WTI) futures were at $55.10 per barrel, up 60 cents from their last close.

Both benchmarks had fallen earlier in the day, with Brent hitting a session low of $57.88 and WTI a session low of $53.54.

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