Brent crude settled at US$50.86 a barrel, falling 43 cents, or 0.84%, after trading as high as $52.02 earlier in the session. U.S. West Texas Intermediate (WTI) crude settled at $47.62 a barrel, losing 61 cents, or 1.26%.
NEW YORK: Oil prices fell on Monday as concerns about weakening fuel demand and the prospect of higher OPEC+ output outweighed optimism over a U.S. stimulus package.
Oil prices strengthened earlier in the day, with Brent rising above $52 a barrel, as Democrats aimed for larger $2,000 COVID-19 relief payments following U.S. President Donald Trump's signing of a $2.3 trillion stimulus deal.
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