Oil rises 2% on positive economic data

Oil prices rose more than 2% on Monday on positive economic data from Europe, Asia and the United States, but investors remained concerned about rising COVID-19 cases globally and oversupply as OPEC begins to lift supply cuts.

Brent crude rose 86 cents, or 2%, to $44.38 a barrel by 1:29 p.m. EDT (1729 GMT) while U.S. West Texas Intermediate (WTI) crude gained 92 cents, or 2.3%, to $41.19.