Oil prices moved higher on Monday, recovering some of the nearly 4% losses seen last week. The rebound came as worries grew about possible supply disruptions linked to rising tensions between the United States and Venezuela.
Those concerns were strong enough to outweigh ongoing fears about too much oil supply in the market and the possible impact of a peace deal between Russia and Ukraine.
Brent crude went up by 25 cents, or 0.4%, reaching $61.37 a barrel in early trading. U.S. West Texas Intermediate also climbed 23 cents, or 0.4%, to $57.67 a barrel.
