Doha: Oil prices edged higher on Monday following gains in the previous session. Brent crude was trading at $64.19 a barrel, up 6 cents or 0.09%. US West Texas Intermediate (WTI) for February rose 9 cents, or 0.15%, to $59.53 a barrel. The February contract expires on Tuesday, while the more actively traded March contract was up 5 cents, or 0.08%, at $59.39 a barrel.
According to Qatar News Agency, the recent movement in oil prices reflects ongoing market dynamics as traders adjust their positions ahead of the February contract expiration. Market participants are closely monitoring these shifts as they evaluate the factors influencing the current pricing trends.