Oil rises on views US may step up banks rescue (AP)

The Total refinery in Spergau near Leuna in eastern Germany. Oil prices crept higher on Monday after OPEC member Algeria hinted that the cartel could cut output next month.(AFP/DDP/File/Jens Schlueter)AP – Improved confidence in financial markets, helped by reports the U.S. government may increase its ownership in Citigroup, boosted oil prices above $40 a barrel Monday despite a steady stream of bleak corporate and economic news.

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