Oil Recovers from Most Losses amid Positive Expectations

Oil prices recovered from most of its earlier losses on Monday, but showed a mixed performance, with continuous concerns about recovery and the sustainability of production policies.

However, most expectations are leaning towards a tight supply until the end of the year.

In addition, markets are focusing on the coming Federal Reserve policy meeting.

Today, the global benchmark Brent crude futures for September delivery added 40 cents, or 0.54%, to close at $74.50 per barrel, maintaining an upward trend for the fifth consecutive session and reaching its highest level since July 14.

Meanwhile, the West Texas Intermediate (WTI) futures Front lost 16 cents or 0.22% to finish at $71.91 per barrel.