Oil prices rose on Monday as investors showed record confidence in prices rising further, though gains were capped by the prospect of faster growth in U.S. oil production.
Brent crude oil rose 58 cents to $56.57 a barrel by 1433 GMT, while U.S. West Texas Intermediate added 47 cents to $54.46.
Investors raised their bets on rising Brent crude oil prices to a new high last week, data from the InterContinental Exchange showed on Monday, breaking the 500,000-lot mark for the first time on record.
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