TOKYO, Feb 22 (Reuters): Oil prices rose on Monday as the slow return of US crude output cut by frigid conditions served as a reminder that the supply situation was tight, just as demand recovers from the depths of the Covid-19 pandemic.
Brent crude was up 55 cents, or 0.9%, at US$63.46 a barrel by 0742 GMT, after gaining nearly 1% last week. US oil rose 47 cents, or 0.8%, to US$59.71 a barrel, having fallen 0.4% last week.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!