Oil Prices Edge Up Amid Russia-Ukraine Tensions
SINGAPORE, Nov 18 (Reuters) – Oil prices saw modest gains on Monday following escalating fighting between Russia and Ukraine over the weekend. However, concerns over weakening fuel demand in China, the world’s second-largest oil consumer, and forecasts of a global oil surplus limited further price increases.
Brent crude futures rose by 29 cents, or 0.4%, to $71.33 a barrel, while U.S. West Texas Intermediate (WTI) crude gained 18 cents, or 0.3%, to $67.20 a barrel by 0502 GMT.
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