Oil prices nudged lower on Monday after international benchmark Brent hit a fres...
TOKYO - Oil prices nudged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, with investors eyeing mixed signals on global supply.
U.S. West Texas Intermediate crude futures were at $63.63 per barrel, down 26 cents, or 0.4 percent, from their last settlement. But at the same time, “murmurings from various ministers of the OPEC+ pact suggest supply from the group will not be ramped up pre-emptively as per last summer,” he said. The head of Libya’s National Oil Corp warned on Friday that renewed fighting could wipe out crude production in the country.
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