Oil prices rose nearly 3 percent on Monday, clawing back some of last week’s steep losses, although gains were capped by uncertainty over global economic growth and further signs of increasing supply, including record Saudi production. o Brent crude LCOc1 futures rose $1.68 to settle at $60.48 a barrel, a 2.9 percent gain. U.S. West Texas Intermediate (WTI) crude CLc1 gained $1.21, or 2.4 percent, to close at $51.63 a barrel. Prices on Friday hit their lowest since October 2017 amid intensifying fears of a supply glut. Brent sank to $58.41 a barrel, while WTI fell to $50.15 a barrel. “We are reluctant to read much into today’s oil price advance given a much oversold technical condition that needed only a moderate stock market rally […]