Oil Prices Rise in Asian Trade

Oil prices rose in Asian trade on Monday, following gains last week, as traders shrugged off the impact of Friday’s attempted coup in Turkey, while a weaker dollar and upbeat economic data from the United States lent price support. 
Brent crude futures rose 26 cents to $47.87 a barrel as of 0402 GMT after closing up 24 cents in the previous session, having gained nearly 2% for the week. 
US crude futures climbed 10 cents to $46.05 a barrel after ending the previous session up 27 cents, gaining more than 1% for the week. 
Both benchmarks rebounded after declining early in Monday’s session as investors digested the impact from the coup bid. 
Istanbul’s Bosphorus Strait, a key chokepoint for oil which handles about 3% of global shipments, mainly from Black Sea ports and the Caspian region, was reopened on Saturday after being shut for several hours after Friday’s attempted military coup. 
The dollar index slipped against a basket of currencies in early trade on Monday. A weaker greenback makes dollar-priced commodities cheaper for holders of other currencies, boosting demand for crude. 
Buoyant economic data from the US and China on Friday, the world’s two biggest economies, lent support to oil prices.