Oil steady as traders brace for U.S.–Iran nuclear talks
Oil traded little changed on Monday, with investors weighing the market implications of upcoming U.S.-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases.
Brent crude futures edged up 3 cents to $67.78 a barrel by 0358 GMT.
U.S. West Texas Intermediate crude was at $62.91 a barrel, up 2 cents. There will be no WTI settlement on Monday due to a U.S. holiday.
Last week, both benchmarks posted weekly declines with Brent settling down about 0.5% and WTI losing 1% after comments from U.S. President Donald Trump that Washington could make a deal with Tehran over the next month drove down prices on Thursday.
With U.S.-Iran tensions pushing up oil prices, the Organization of the Petroleum Exporting Countries and allies - together called OPEC+ - are leaning toward resuming output increases from April following a three-month halt, to meet peak summer demand, Reuters reported. “We want to set the Venezuelan people and the economy free.'
Reuters
Oil traded little changed on Monday, with investors weighing the market implications of upcoming U.S.-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases.
Brent crude futures edged up 3 cents to $67.78 a barrel by 0358 GMT.
U.S. West Texas Intermediate crude was at $62.91 a barrel, up 2 cents. There will be no WTI settlement on Monday due to a U.S. holiday.
Last week, both benchmarks posted weekly declines with Brent settling down about 0.5% and WTI losing 1% after comments from U.S. President Donald Trump that Washington could make a deal with Tehran over the next month drove down prices on Thursday.
With U.S.-Iran tensions pushing up oil prices, the Organization of the Petroleum Exporting Countries and allies - together called OPEC+ - are leaning toward resuming output increases from April following a three-month halt, to meet peak summer demand, Reuters reported. “We want to set the Venezuelan people and the economy free.'
Reuters
Oil traded little changed on Monday, with investors weighing the market implications of upcoming U.S.-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases.
Brent crude futures edged up 3 cents to $67.78 a barrel by 0358 GMT.
U.S. West Texas Intermediate crude was at $62.91 a barrel, up 2 cents. There will be no WTI settlement on Monday due to a U.S. holiday.
Last week, both benchmarks posted weekly declines with Brent settling down about 0.5% and WTI losing 1% after comments from U.S. President Donald Trump that Washington could make a deal with Tehran over the next month drove down prices on Thursday.
With U.S.-Iran tensions pushing up oil prices, the Organization of the Petroleum Exporting Countries and allies - together called OPEC+ - are leaning toward resuming output increases from April following a three-month halt, to meet peak summer demand, Reuters reported. “We want to set the Venezuelan people and the economy free.'
Reuters
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Oil steady as traders brace for U.S.–Iran nuclear talks
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