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.