Oil Prices Mixed As Growth Worries Weigh

Oil prices traded mixed on Monday after falling sharply in the previous session on inflation worries and global growth concerns.

West Texas Intermediate Crude oil futures for August settlement edged up 0.3 percent to $108.28 a barrel, while Brent crude futures for August delivery were down 0.2 percent at $112.94 a barrel.

A weaker dollar offered some support after a violent selloff last week on concerns a global recession would curb fuel demand.

The euro rose against the dollar today despite French President Emmanuel Macron losing an absolute majority in the country's parliamentary election.

Investors refocused on tight supplies, with Libya's crude oil production dropping to less than 200,000 barrels per day amid a continued shutdown of ports and facilities, a spokesman for the oil ministry said last week.

Also, oil products exports from China continued to decline, keeping global supplies tight.

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