TOKYO – Oil prices rose on Monday as the slow return of U.S. crude output that was cut by frigid conditions raised concerns about supply just as demand is coming back from the depths of the coronavirus pandemic.
Brent crude was up 76 cents, or 1.2 per cent, at $61.67 a barrel by 0104 GMT, after gaining nearly 1 per cent last week. U.S. oil rose 74 cents, or 1.3 per cent, to $59.98 a barrel, having fallen 0.4 per cent last week.
