Earlier, oil rose amid news of declines in daily production capacity from Canada's most destructive wildfire in recent memory. Reuters said the lost capacity of about a million barrels equals more than a third of the country's typical daily production, and nearly all of Canada's crude from oil sands is exported to the United States.
"The crosscurrents are playing in a commodities market that's had a significant lift," said Art Hogan, chief market strategist at Wunderlich Securities.
On Saturday, crude exporter Saudi Arabia appointed Khalid al-Falih, chairman of the state oil giant Saudi Aramco, as its new energy minister, replacing Ali al-Naimi, who had held the post since 1995.
China's crude oil imports rose 7.6 percent in April from a year ago, according to customs data released Sunday, Reuters said. The demand was driven by strong demand from domestic private refiners, many of which received licenses from Beijing last year to import crude for the first time.
Overall, China reported 10.9 percent decline in imports and a 1.8 percent drop in exports from the same period last year.
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China's foreign exchange reserves rose for a second-straight month to $3.22 trillion in April, central bank data showed on Saturday.
Asian stocks closed mixed, with the Hang Seng and Nikkei 225 slightly higher and the Shanghai composite about 2.8 percent lower.
European stocks closed higher, with the German DAX outperforming with gains of more than 1 percent.
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Chicago Fed President Charles Evans said in a Reuters report Monday solid U.S. economic fundamentals should support pickup in growth this year to about 2.5 percent, but the Fed's current "wait-and-see" approach to monetary policy is appropriate.
Minneapolis Fed President Neel Kashkari said Monday the central bank's current monetary policy stance is appropriate, Reuters reported, citing prepared remarks. He said in the report that low rates help bring workers back to the labor force without putting too much upward pressure on inflation, although that pressure could build if rates are kept low for too long.
Earlier, Kashkari said in an interview with Reuters the current stance of monetary policy is "about right."
San Francisco Fed President John Williams is due to speak early in the evening ET.
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On Friday, the April nonfarm payrolls report showed creation of 160,000 jobs, below expectations. The labor force participation rate fell to 62.8 percent.
New York Fed President William C. Dudley said in a New York Times article Friday the jobs report was perhaps softer than expectations but gave it little weight in affecting his economic outlook. He added in the piece that two hikes this year remained a "reasonable expectation."
U.S. stocks closed higher Friday, amid gains in oil prices.
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