TOKYO: Oil prices rose on Monday as a tropical storm in the Gulf of Mexico prompted drillers to evacuate rigs and shut in production, although gains were muted by concerns about excess global supplies and falling fuel demand.
U.S. West Texas Intermediate (WTI) crude futures were trading up 14 cents, or 0.4%, at $37.47 a barrel by around 0629 GMT. Brent crude was 6 cents, or 0.2%, higher at $39.89 a barrel.
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