Oil prices rose slightly on Monday as traders remained cautious despite receding fears of a recession in the U.S., which drove prices down for three straight weeks for the first time since November, APA-Economics reports citing Reuters.
Brent crude futures were up 11 cents, or 0.2%, at $75.41 a barrel at 0252 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, also 0.2%, at $71.46.
"Crude prices may continue to take the rebounding tailwind," CMC Markets' Teng said.