Oil price settles nearly flat; recession worry vies with higher demand outlook


U.S. West Texas Intermediate (WTI) crude CLc1 settled up 1 cent, or 0.01%, at $110.29 a barrel, while Brent crude LCOc1 futures settled up 87 cents, or 0.7%, to at $113.42.

Oil prices were little changed on Monday, settling just slightly higher as worries over a possible recession vied with an outlook for higher fuel demand with the upcoming U.S. summer driving season and Shanghai's plans to reopen after a two-month coronavirus lockdown.

U.S. West Texas Intermediate (WTI) crude CLc1 settled up 1 cent, or 0.01%, at $110.29 a barrel, while Brent crude LCOc1 futures settled up 87 cents, or 0.7%, to at $113.42.

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