TOKYO: 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 $63.46 a barrel by 0742 GMT, after gaining nearly 1% last week. U.S. oil rose 47 cents, or 0.8%, to $59.71 a barrel, having fallen 0.4% last week.
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