Oil prices rose slightly in early trading on Monday but remained under pressure due to uncertainty surrounding US-China trade negotiations, which continues to cast a shadow over global growth and fuel demand. Adding to the cautious sentiment is the potential increase in oil supplies from OPEC+.
As of 0025 GMT, Brent crude futures were up by 9 cents, trading at $66.96 per barrel, while West Texas Intermediate (WTI) crude futures also gained 9 cents, reaching $63.11 per barrel.tay updated on Kuwait’s latest news and job openings by following our WhatsApp channel!https://whatsapp.com/channel/0029VaCkXo25q08jnKrRwo27
Michael McCarthy, CEO of Momo Australia, noted that the absence of fresh news is modestly lifting oil prices as traders position themselves ahead of a potential OPEC+ supply hike expected to be discussed during the May 5 meeting, along with a likely increase in US oil production.