Ammon News - Oil prices inched up in early trade on Monday but remained dogged by uncertainty over trade talks between the U.S. and China clouding the outlook for global growth and fuel demand, while the prospect of OPEC+ raising supply cast more gloom.

Brent crude futures was up 22 cents by 0429 GMT to $67.09 a barrel, and U.S. West Texas Intermediate crude gained 24 cents to $63.26 a barrel.

Both benchmarks nudged higher for a third session.

"Absence of news is pushing oil prices modestly higher as traders are positioned short ahead of potential increased OPEC+ supply from the May 5 meeting and a significant production boost in the USA," Michael McCarthy, chief executive officer of online trading platform Moomoo Australia.

Some members of the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, are expected to suggest that the group accelerates oil output hikes for a second consecutive month when they meet on May 5.

Expectations of oversupply and concerns about the impact of tariffs on the global economy caused Brent and WTI to fall by more than 1% last week. Reuters