SINGAPORE- Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while US benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States.
Brent crude rose 18 cents, or 0.4 percent, to $42.98 a barrel after a 4.3 percent gain last week, while US West Texas Intermediate crude was at $40.42, down 23 cents, or 0.6 percent, from its previous settlement on Thursday. US markets were closed on Friday to mark July 4 holiday celebrations.
Amid rising numbers of coronavirus cases in 39 US states, a Reuters tally showed that in the first four days of July alone, 15 states reported record increases in new COVID-19 infections with parties over the holiday weekend possibly leading to another spike. — Reuters
