Oil prices crept up on Monday, shaking off fears last week that the US economy is headed for a recession. A strong jobs report on Friday did much to calm the nerves of markets, even as part of the US banking sector continues to show signs of fragility. Investors will be watching out for more economic indicators set to be released on Wednesday. Investors have been sensitive to Federal Reserve interest rate hikes, with the US central bank hiking rates by another 25 basis points last week.

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