Oil prices climbed more than 1.5% on Monday on higher geopolitical risk after the fall of Syrian President Bashar al-Assad, and as top importer China flagged its first move towards a loosened monetary policy stance since 2010.
Brent crude futures were up $1.17, or 1.7%, to $72.30 per barrel at 12:50 p.m. ET (1451 GMT). U.S. West Texas Intermediate (WTI) crude futures were up $1.34, or 2%, to $68.55.
China's slowdown was a factor behind the decision of oil producers' group OPEC+ last week to postpone its plans for higher output until April.
Weighing on prices, leading exporter Saudi Aramco on Sunday reduced its January 2025 prices for Asian buyers to their lowest level since early 2021, as markets worried it could signal weak demand.
Source: Reuters
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