Oil rose on Monday, driven by new orders as traders staked out positions at the start of the new month, but the market remains dogged by plentiful crude supplies, a flood of refined products, and a weakening economic outlook.
Brent crude was at $43.72 per barrel at 0440 GMT, up 19 cents from its last close in July, when it lost 12 percent over the month.
U.S. West Texas intermediate was at 41.76 per barrel, up 16 cents from July’s last close. WTI shed 13 percent in July.
