Oil prices edged higher Monday as upbeat economic data helped to raise expectations for crude demand, offsetting some pressure from concerns over growing U.S. production.
On the New York Mercantile Exchange, January West Texas Intermediate crude CLF8, +0.63% tacked on 17 cents, or 0.3% to $57.53 a barrel on the New York Mercantile Exchange, after losing roughly 1.7% last week. February Brent crude LCOG8, +1.59% the global benchmark, rose 58 cents, or 0.9%, to $63.98 a barrel on ICE Futures Europe.
