Jun 27 2022 09:50
Oil prices extended gains on Monday, as investors awaited any moves against Russian oil and gas exports that might be taken during the Group of Seven leaders meeting in Germany.
At the moment, supply concerns have overshadowed the growing fears of a possible global recession after a string of downbeat US economic data.
Brent crude futures rose 22 cents, or 0.2 percent, to $113.34 a barrel by 0342 GMT, after rising 2.8 percent on Friday.
US West Texas Intermediate crude reached $107.73 a barrel, up 11 cents, or 0.1 percent, after rising 3.2 percent in the previous session.
The two contracts recorded their second weekly decline last week.
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