Oil Gains After US Infrastructure Bill Passes, Chinese Exports Rise

Oil Gains After US Infrastructure Bill Passes, Chinese Exports Rise
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Okla., on April 21, 2020. Drone Base/Reuters
|Updated:

LONDON—Oil prices rose on Monday as positive signs for global economic growth supported the outlook for energy demand, while Saudi Arabia’s state-owned producer Aramco raised the official selling price for its crude.

Brent crude was up by 91 cents, or 1.1 percent, at $83.65 a barrel at 1028 GMT, after dropping nearly 2 percent last week. U.S. oil gained $1.13, or 1.39 percent, to $82.40, having declined almost 3 percent through Friday.