Key Points
LONDON (Reuters) Oil prices pared gains after earlier climbing $1 on Monday, with questions around supply and global demand and ahead of comments from the U.S. Federal Reserve chair that could offer insight on future interest rate moves...
Brent December crude futures were up 36 cents to $92.56 a barrel by 1313 GMT, after earlier climbing more than $1. Brent November futures had settled 7 cents lower at $95.31 a barrel at the contracts expiry on Friday...
U.S. West Texas Intermediate crude futures were largely steady, up just 12 cents to $90.91 a barrel, after also jumping more than a $1 in earlier trading, and after losing 92 cents on Friday...
Oil prices started the week on a strong note amid supply concerns with no policy change by OPEC+ expected, while the avoidance of a U.S. government shutdown over the weekend gave some relief, said Hiroyuki Kikukawa, president of NS Trading...
Additionally, Saudi Arabia could start to ease its additional voluntary supply cut of 1 million barrels per day (bpd), said ING analysts in a note on Monday.. The Saudis have said that there is still concern over Chinese demand..
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