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Oil rises on signs low prices crimping U.S. output though economic worries weigh

Reuters  |  SEOUL 

By Jane ChungSEOUL (Reuters) - Oil prices rose more than 1 percent on Monday on signs that the recent price plunge may start crimping supply from the U.S., currently the world's biggest oil producer, though concerns about global economy continues to weigh. International benchmark Brent crude futures rose 60 cents, or 1.1 percent, to $54.42 a barrel at 0408 GMT. Prices climbed to as high as $54.66.U.S. West Texas Intermediate (WTI) crude futures were up 37 cents, or 0.8 percent, to $45.96 a barrel after earlier climbing to as high as $46.24. Crude prices rebounded from a sharp declines last ...

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First Published: Mon, December 24 2018. 12:49 IST