Oil prices rose on Monday after OPEC+ members reaffirmed a plan to hold output steady, as the Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions raised concerns about supply.
Brent crude futures advanced $1.01, or 1.62%, to $63.39 a barrel at 0401 GMT. U.S. West Texas Intermediate crude gained $1, or 1.71%, to $59.55.
Both contracts settled down on Friday for the fourth straight month, their longest losing streak since 2023, as expectations for higher global supply weighed on prices.
Reuters
Oil prices rose on Monday after OPEC+ members reaffirmed a plan to hold output steady, as the Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions raised concerns about supply.
Brent crude futures advanced $1.01, or 1.62%, to $63.39 a barrel at 0401 GMT. U.S. West Texas Intermediate crude gained $1, or 1.71%, to $59.55.
Both contracts settled down on Friday for the fourth straight month, their longest losing streak since 2023, as expectations for higher global supply weighed on prices.
Reuters
Oil prices rose on Monday after OPEC+ members reaffirmed a plan to hold output steady, as the Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions raised concerns about supply.
Brent crude futures advanced $1.01, or 1.62%, to $63.39 a barrel at 0401 GMT. U.S. West Texas Intermediate crude gained $1, or 1.71%, to $59.55.
Both contracts settled down on Friday for the fourth straight month, their longest losing streak since 2023, as expectations for higher global supply weighed on prices.
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