Oil prices inched higher on Monday, extending steady gains from the previous week, with investors awaiting fresh clues over prospects for a trade deal between the United States and China and shrugging off concerns over steadily rising oil supplies.
Brent crude futures were up 11 cents, or 0.2%, to $63.41 a barrel at 0751 GMT. The contract rose 1.3% last week.
West Texas Intermediate (WTI) crude were 21 cents, or 0.4%, higher at $57.93 a barrel, having gained 0.8% last week.
Early in the session, crude prices were mostly flat to their previous close as the market consolidated after Friday’s rally, said Margaret Yang, market analyst at CMC Markets.