Commodity - Oil prices winked between small gains and losses in European trading on Monday after reaching the strongest level in almost four weeks among optimism that OPEC will extend its production-cut deal beyond June.
Brent oil for June delivery on the ICE Futures Exchange in London held firm at $53.52 a barrel. The global benchmark hit $53.77 on Friday, the most since March 9.
Elsewhere, the U.S. West Texas Intermediate crude May contract traded at $50.64 a barrel. It touched its high since March 8 at $50.85 in the prior session.
Oil prices rose around 5% last week, the biggest weekly rise in four months.
Sentiment improved in wake of increasingly supportive rhetoric from a number of OPEC nations willing to extend production cuts into the second half of 2017.
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