Oil Prices Slip As Rising Middle East Exports, G7 Reserves Ease Supply Concerns
Singapore: Oil prices slipped on Monday as a rise in Middle Eastern crude exports and the planned release of emergency reserves by Group of Seven countries eased supply concerns and weighed on the market.
Brent crude futures fell 66 cents, or 0.65%, to $101.59 a barrel, while US West Texas Intermediate (WTI) crude dropped 95 cents, or 1.03%, to $90.12 a barrel.
Brent gave up most of its gains from last week, while WTI fell 1.6% after G7 countries agreed on Friday to release 100 million barrels of crude and diesel from emergency reserves
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