Oil price will follow economic data coming out from Japan and the U.S for dirrection

Changed oil hovered just above $ 56 a barrel on Monday 18 May 2009, the break of the previous meeting of the loss of nearly 4 percent as the market expects more economic data and movements in equity markets for directions .

U.S. Crude for June delivery CLc1 rose 36 cents to $ 56.70 per barrel for 2256 GMT. The contract fell $ 2.28 to settle at $ 56.34 per barrel on Friday compared to a period of six months high of over $ 60 before beating last week.