Oil gains $1 on hopes of economic recovery
U.S. crude futures gained more than $1 in electronic trade on Monday as investors shrugged off gloomy economic data and held out hope for a global recovery.
NYMEX crude for May delivery was trading up 96 cents at $53.48 a barrel as of 11:47 p.m. EDT, after gaining as much as $1.03.
(Reporting by Angela Moon; Editing by Jonathan Hopfner)
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