Oil prices drifted lower on Monday after the recovery of a major U.S. pipeline network eased concerns over supply, though fresh restrictions in Asia sparked by surging COVID-19 cases weighed on sentiment.
Gasoline shortages that have plagued the U.S. East Coast slowly eased on Sunday, with 1,000 more stations receiving supplies as Colonial Pipeline's 5,500-mile (8,900-km) system recovered from a crippling cyberattack
Brent crude oil futures fell 21 cents, or 0.3%, to $68.50 a barrel as of 0639 GMT, and West Texas Intermediate (WTI) crude eased 9 cents, or 0.1%, to $65.28. Both were in positive territory earlier in the Asian session.
Investors remained cautious on worries that the highly transmissible coronavirus variant first detected in India is spreading to other countries.
Reference: Reuters
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