Oil prices rise as tight market looks to Russian-Western diplomacy
LONDON (Reuters) – Oil prices rose slightly on Monday as fresh diplomatic efforts to resolve the Ukraine crisis provided some relief from supply concerns that have kept oil prices near $100 a barrel.
Brent crude futures rose 25 cents, or 0.3%, to $93.79 a barrel at 1000 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 35 cents, or 0.4%, to $91.42 a barrel.
French President Emmanuel Macron said on Monday that U.S. President Joe Biden and Russian President Vladimir Putin have agreed in principle to a summit over Ukraine but the Kremlin said there were no immediate plans for a meeting.
U.S. markets will be closed on Monday for the Presidents Day holiday.
