US crude prices reversed some of last week's losses and rose toward $72 a barrel on Monday, supported by a technical rebound and as a powerful storm across the mid-Atlantic boosted hopes of increased fuel demand.
US crude for March delivery rose 26 cents to $71.45 a barrel. The contract settled down $1.95 at a seven-week low of $71.19 per barrel on Friday, after earlier hitting a session low of $69.50.
Source BloombergUTV
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