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Oil Prices Fall After Recording Best Weekly Gains in A Month

Oil prices fell on Monday in Asia after recording their best weekly gains in a month last week.

U.S. Crude Oil WTI Futures traded 0.4% down to $58.59. Last week, the U.S. benchmark climbed 4.3%, its best weekly gain in about a month. International Brent Oil Futures were down 0.2% to $67.00 on Monday after recording a gain of approximately 2.1% last week.

Saudi Arabia’s energy minister Khalid A. Al-Falih said on Sunday that he was optimistic about continued commitment to the oil supply cut agreement between OPEC and non-OPEC members.

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