Oil prices rose slightly on Monday amid fading Omicron fears and lingering concerns over tightening supplies on the back of geopolitical tensions in Eastern Europe and the Middle East.
Brent crude futures for April delivery rose 27 cents, or 0.3 percent, to $87.35 a barrel, while U.S. West Texas Intermediate (WTI) crude futures for March settlement were up 27 cents, or 0.3 percent, at $85.41.
Both crude benchmarks rose for a fifth week in a row last week amid demand optimism and signs of dwindling supplies.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.