Oil prices posted modest gain on Monday

Oil prices on Monday (15 Feb) extended last Friday's rally with modest gain follow the equity market. Oil traders appear to have shrugged off disappointed economic data from Japan and China with hope that more stimulus are on the way. However, at the background, Iran has shipped the first consignment of the commodity since the sanctions lifted fueling worries about global supply glut.

WTI closed at   $33.01 (+$0.57/b)
Brent closed at $33.72 (+$0.36/b)

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