Crude oil futures in Asian trading hours Monday opened the week slightly lower, as Brent once again looked to consolidate in the $80s per barrel after several failed attempts to hold the key-psychological level since mid-month, APA-Economics reports citing Quantum Commodity Intelligence.
Sep23 ICE Brent futures were trading at $80.66/b, compared to Friday’s settle of $81.07/b.
At the same time Sep23 NYMEX WTI was trading $76.85/b, versus Friday’s close of $77.07/b.
Oil benchmarks increased last week on supply concerns while also getting a helping hand from a possible China stimulus, although policymakers could decide against Renminbi depreciation.
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