Oil Prices Close Mixed but Rise for Fifth Month

Oil prices closed lower on Monday, limiting its fifth consecutive monthly rise, amid a mixed demand outlook.

Brent crude futures for November delivery decreased by 53 cents, or 1.2%, to finish at $45.28 per barrel.

The global benchmark Brent futures are now higher by 4.6% during the month of August, as it recorded its fifth monthly rise in a row.

Meanwhile, West Texas Intermediate (WTI) futures for October delivery increased by 36 cents, or 0.8%, and settled at $42.61 per barrel, registering gains of 5.8% for the fourth consecutive month.