Oil Rises as Strong Demand Outweighs Supply Concerns
March 03, 2015 at 09:08 AM EST
U.S. crude futures, also known as West Texas Intermediate or WTI, were up 34 cents at $49.93 a barrel. The U.S. benchmark's discount to Brent narrowed sharply on Monday, reversing after touching $13.03, the widest since January 2014.
