Oil settles higher on Chinese factory data, US stimulus hopes

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[NEW YORK] Oil settled higher on Monday, supported by data suggesting Chinese factories were returning to pre-pandemic levels, signs of rising energy demand and hopes for an agreement in the United States on more coronavirus-related economic stimulus. Read more at The Business Times.

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On Sunday, Saudi Arabian Aramco CEO Amin Nasser he sees oil demand rebounding in Asia as economies gradually open up.

"A smidgen of favorable headlines on the coronavirus front has been enough to spur buying interest back into the petrol market," said Jim Ritterbusch of Ritterbusch and Associates.

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