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Oil Prices Show Mixed Performance

M. Ali 11 January, 2021 11:59 pm Commodities, Market Update

Oil prices showed a mixed performance on Monday, starting the week on a negative tone amid a surge in new Coronavirus cases and a rebound by the U.S. Dollar (USD).

Brent crude futures for March delivery declined by 33 cents, or 0.6%, to settle at $55.66 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for February delivery settled nearly unchanged at $52.25 per barrel, at its highest level since February 21, supported by the recent draw in crude inventories in the United States and the OPEC+ agreement to curb output, after registering losses earlier in today’s session.

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