Oil pulled two ways by economic slowdown, OPEC-led supply cuts | Reuters

Oil pulled two ways by economic slowdown, OPEC-led supply cuts | Reuters:

Oil prices were mixed on Monday, weighed by concerns that an economic downturn may dent fuel consumption, but supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela.

Brent crude oil futures were at $67.24 per barrel at 0737 GMT, up 8 cents from their last close, and not far off the $68.14 per barrel 2019-high reached last week.

U.S. West Texas Intermediate (WTI) futures were at $58.43 per barrel, down 9 cents from their last settlement, but also still close to last week’s 2019-high of $58.95.