Oil Prices Rise Amid Economic Forecast Concerns
Oil prices edged up during early Asian trading on Monday amid worries about the impacts of trade talks between the United States and China, casting a shadow over global growth prospects and fuel demand.
Brent crude futures rose by nine cents to $66.96 a barrel, while West Texas Intermediate (WTI) crude futures also increased by nine cents to $63.11 a barrel.
The outlook for increased supply and concerns about the impact of tariffs on the global economy caused both Brent and WTI crude to drop by more than one percent last week.
The market experienced volatility due to conflicting signals from the U.S. and China regarding progress made in easing the trade war that threatens to curtail global growth.
