Brent rose 33 cents to settle at US$63.28 a barrel. U.S. West Texas Intermediate (WTI) rose 38 cents to settle at $59.70 a barrel.(File pic shows oil production at Aramco. - Reuters)
NEW YORK: Oil prices rose on Monday on optimism over the pace of coronavirus vaccinations in the United States and after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites.
Still, crude prices have remained rangebound in the past three weeks, as growing expectations of surging U.S. economic activity are balanced by the slow rate of vaccination in Europe and anticipation of additional supply from Iran in coming months.
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