Oil Markets Saw Little Net Change Last Week

(Undated) — GasBuddy reports that oil markets saw little net change over the last week as traders remained focused on nuclear talks between Iran and the United States, leaving crude prices largely “range-bound” as the market waits for clarity. In early Monday trade, a barrel of WTI crude was up 9 cents to $62.98 per barrel, slightly below last Monday’s $63.58 opening, while Brent was also up 9 cents to $67.84 per barrel, down from $68.07 a week ago. They say prices continue to be supported by relatively modest oil inventory builds so far this year, even as expectations for rising supply from OPEC+ and non-OPEC producers act as a counterweight to further gains.