Crude prices edged up in Asia on Monday, building on recent gains with Brent holding above $50 after Nigerian militants claimed fresh attacks on the country’s oil infrastructure.
Prices see-sawed last week, plunging in the immediate aftermath of Britain’s shock decision to leave the European Union but rallying after central banks worldwide vowed support to financial markets.
At about 0630 GMT, US benchmark West Texas Intermediate was up 33 cents at $49.32, while Brent rose 35 cents to $50.70. Analysts said trading would likely be light Monday owing to the Independence Day holiday in the United States.
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