Oil prices were steady on Monday as bullish sentiment about tightening supplies from OPEC+ cuts and a resumption in U.S. buying for reserves competed with concerns about fuel demand in the top global oil consumers, the United States and China.
Brent crude futures fell 2 cents to $73.91 a barrel by 0800 GMT, while U.S. West Texas Intermediate crude was at $69.34 a barrel, up 4 cents.
Last week, both benchmarks fell for a fourth consecutive week, the longest streak of weekly declines since September 2022, over concerns the United States could enter a recession amid risk of a historic default at the beginning of June.
Challenger Energy Group plc (LON:CEG) is a Caribbean and Atlantic margin focused oil and gas company, with a range of petroleum assets located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay.