Oil prices eased on Monday as traders awaited more rate hike cues from U.S. and European central banks, with tightening supply and hopes for Chinese stimulus underpinning Brent at $80 a barrel.
Brent crude futures dipped 16 cents, or 0.2%, to $80.91 a barrel by 0444 GMT. U.S. West Texas Intermediate (WTI) crude was at $76.90 a barrel, down 17 cents, or 0.2%.
The benchmarks rose 1.5% and 2.2% respectively last week, their fourth straight of week of gains, as supply is expected to tighten following OPEC+ cuts. Fighting also escalated last week in Ukraine after Russia withdrew from a U.N.-brokered safe sea corridor agreement for grains exports.
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