Oil mixed as storm threatens US gulf production

Oil prices were mixed on Monday with U.S. crude rising as a tropical storm in the Gulf of Mexico forced rigs to shut down, but the gains were kept in check by wider concerns about excess supply and falling demand for fuels.

U.S. West Texas Intermediate (WTI) crude futures were up 9 cents, or 0.2%, at $37.42 a barrel by around 0050 GMT. Brent crude was down 3 cents at $39.80 a barrel.

Both contracts ended last week lower, a second consecutive week of declines.