Oil prices hovered near three-month highs on Monday, set to post their biggest monthly gains in over a year on expectations that Saudi Arabia would extend voluntary output cuts into September and tightening global supply.
Brent crude futures declined 9 cents, to $84.90 a barrel.
US West Texas Intermediate (WTI) fell 17 cents to $80.41 a barrel.
Brent and WTI settled on Friday at their highest levels since April, gaining for a fifth straight week, as tightening oil supplies globally and expectations of an end to US interest rate hikes supported prices. Both are on track to close July with their biggest monthly gains since January 2022.
Source: Qatar News Agency