Oil rose on Monday on expectations that the OPEC+ group of leading producers will keep output unchanged in May, and worries that operations in the Suez Canal might take weeks to return to normal even though a ship blocking it has been partly refloated.
Brent oil rose 58 cents, or 0.9%, to $65.15 a barrel by 1048 GMT. U.S. crude was up 40 cents, or 0.7%, at $61.37 a barrel.
Both contracts had fallen more than $1 earlier in the session.
The huge container ship blocking Egypt’s Suez Canal for nearly a week has been partially refloated, the Suez Canal Authority (SCA) said, raising hopes the busy waterway will soon be reopened for a big backlog of ships.
