US oil settles at $52.65 a barrel, down 53 cents as trade thins following 3 weeks of gains

CNBC ------- Crude oil prices slipped on Monday in subdued trading after a three-week rally capped by the long Easter holiday weekend, but losses were curbed by strong economic growth in China and a weaker dollar. Overnight, strong March investment, retail sales and exports all suggested that China, the world's No. 2 oil consumer, might carry solid economic momentum into spring. However, Robert Yawger, director of energy futures at Mizuho Americas said China's strong Gross Domestic Product was offset by fears of oversupply and profit taking. "The market was overbought so these people are definitely booking profits at this point," he said. Benchmark Brent crude futures were down 44 cents at $55.45, while U.S. West Texas Intermediate (WTI) crude futures were down 53 cents at $52.65 a barrel. To learn more click on the picture below to read the article.