The weaker dollar and pop in equities helped....>

OIL: The weaker dollar and pop in equities helped crude move higher, outweighing

the additional rigs coming online in the latest Baker Hughes rig count data

(Friday's data showed a rise of 7 active rigs in the US, now totalling 798) and

as non-commercial names trimmed their long exposure in the latest CFTC report.

- WTI added $0.80, last trading at 62.47, while Brent added a little over $0.50

to trade at $63.35.

- Also of note in the space, was that LOOP completed its first Very Large Crude

Carrier oil loading operation at its deep water facility near Port Fourchon.

- On the technical front daily studies in WTI correcting from very O/S are well

placed for gains following the bounce from ahead of the 100-DMA. The contract is

gaining traction above the 55-DMA ($61.06) adding to bullish confidence. Overall

bulls look for a close above $63.94 to initially target 2018 highs. Bears now

look for a close below $60.57 to gain breathing room and below the 100-DMA to

target the 200-DMA ($53.58).