Futures Movers: Oil edges lower, extending last week’s slump

Oil futures ticked higher on Monday, finding support from some promising signs of demand strength after worries about the economic outlook prompted prices for U.S. and global benchmark crude to lose more than 5% last week.

Price action
Market drivers

Both Brent and WTI dropped more than 5% last week, ending a streak of four consecutive weekly gains as crude gave back a chunk of the gains scored earlier this month after Saudi Arabia and other OPEC+ countries announced production cuts of around 1.15 million…


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