oil prices

Brent crude was up 9 cents, or 0.14 per cent, at $65.33 a barrel by 0320 GMT. West Texas Intermediate for March rose 13 cents, to $60.75 a barrel

US West Texas Intermediate crude futures rose 44 cents, or 0.72 per cent, to $61.94, after rising 8.9 per cent and 7.7 per cent in the previous week

The two top oil consumers have recently renewed their trade war, imposing additional port fees on ships carrying cargo between them

OPEC+ has increased its oil output targets by more than 2.7 million bpd this year, equivalent to about 2.5 per cent of global demand

The IEA on Friday boosted its forecast for supply growth this year, while also trimming its outlook for growth in demand

Trump’s tariffs have prompted uncertainty across the market and concerns they could have a negative effect on the global economy and, consequently, on oil demand

The country also increased the prices for all crude grades it sells to refiners in Northwest Europe and the Mediterranean by $1.40 a barrel

Oil’s gains were kept in check by expectations that the OPEC+ group will boost its August crude oil output

Brent crude futures LCOc1 fell 13 cents, or 0.19 per cent, to $67.64 a barrel by 0344 GMT, ahead of the August contract’s expiry later on Monday

The International Energy Agency revised its world oil demand estimate downwards by 20,000 bpd from last month’s forecast, and increased the supply estimate by 200,000 bpd to 1.8 million bpd