Oil prices were mostly steady on Monday after climbing more than 2% in the previous session. Worries about global energy supplies were balanced out by production problems in the United States caused by severe weather.
Brent crude slipped slightly by 7 cents, trading at $65.81 a barrel, while U.S. West Texas Intermediate (WTI) dropped 6 cents to $61.01 a barrel in early trading.
Even with the small dip, both oil benchmarks had a strong week. They finished last week up 2.7%, closing at their highest levels since January 14.
In simple terms — prices are taking a pause, but the market is still sitting near recent highs as supply concerns and weather-related disruptions continue to shape oil trading.
