Global oil prices moved slightly higher Monday, though trading remained cautious as markets weighed supply concerns and waited for key economic data.
Brent crude traded near $106 a barrel, while West Texas Intermediate (WTI) hovered around $96, showing modest gains amid ongoing uncertainty.
Analysts say oil prices continue to be shaped by geopolitical tensions in producing regions, OPEC+ production policies, and expectations around global demand in the months ahead.
Markets are also watching upcoming U.S. oil inventory data, which could help determine where prices head next.
For now, oil remains sensitive to international developments, with traders expecting continued volatility.
