Oil tops $120 a barrel on Saudi raising prices despite OPEC+ deal
(Reuters) -Oil prices were largely unchanged after choppy trade on Monday, buoyed by Saudi Arabia raising its July crude prices but amid doubts a higher output target for OPEC+ oil producers would ease tight supply.
Brent crude was up 4 cents to $119.76 a barrel at 12:22 p.m. EDT (1622 GMT) after touching an intraday high of $121.95.
U.S. West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $118.95 a barrel after hitting a three-month high of $120.99. The benchmark fell by $1 earlier in the session.
Saudi Arabia raised the July official selling price (OSP) for its flagship Arab light crude to Asia by $2.10 from June to a $6.50 premium over Oman/Dubai quotes, just off an all-time-high recorded in May when prices hit highs due to worries of disruptions in supplies from Russia.
