Oil prices mixed over tighter supplies and fears of spike in infections
Brent crude edges up while US benchmark WTI futures drop amid rise in American coronavirus cases
06 July 2020 - 07:51
Singapore — Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while US benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the US.
Brent crude rose 18c, or 0.4%, to $42.98 a barrel by 4.52am after a 4.3% gain last week, while US West Texas Intermediate crude was at $40.42, down 23c, or 0.6%, from its previous settlement on Thursday. US markets were closed on Friday to mark July 4 holiday celebrations...
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