Oil regained ground on Monday, with political uncertainty in the US and the Middle East supporting prices, offsetting downward pressure from a stronger dollar and weak demand in top importer China. Brent crude futures rose 15 cents, or 0.2 percent, to USD 85.18 a barrel after settling down 37 cents on Friday. US West Texas Intermediate crude stood at USD 82.41 a barrel, up 20 cents, or 0.2 percent. Oil prices shrugged off the impact from the dollar, which firmed after a failed assassination bid on US presidential candidate Donald Trump. Last week, Brent fell more than 1.7 percent after four weeks of gains while WTI futures slid 1.1 percent. Source: Qatar News Agency
Saturday, September 21, 2024