Oil prices are rising after falling 6% last week.
U.S. oil rose Monday, trying to recover from last week’s steep declines, after Israel told Palestinians to evacuate the southern Gaza city of Rafah, and Saudi Aramco raised its official crude prices.
Oil fell more than 6% last week, as traders rolled back geopolitical risk premium on fears of war between Iran and Israel, and as crude inventories in the U.S. surged on weaker demand.
