Oil Gains Nearly 2% After ‘Overblown’ Selloff

Brent crude oil was up nearly 2% on Monday, largely driven by the easing of economic slowdown fears in the U.S.At 10:39 a.m. EST on Monday, Brent was trading up 1.62% at $76.52, for a $1.22 gain on the day, while West Texas Intermediate (WTI) was trading up 1.95% at $72.73, for a $1.39 gain on the day. Last week, while Brent was up on Friday, the crude benchmark shed over 5% and WTI shed over 7% on the week, hitting their lowest levels since Q4 2021. Friday also marked three straight weeks of price slides.  Driving bearish sentiment in markets…