Oil prices climbed in early Asia trade on Monday, supported by tensions in the Middle East following a drone attack in Iran and as Beijing pledged over the weekend to promote a consumption recovery which would support fuel demand, Trend reports citing Reuters.
Brent crude futures rose 54 cents, or 0.6%, to $87.20 a barrel by 0115 GMT while U.S. West Texas Intermediate crude was at $80.22 a barrel, up 54 cents, or 0.7%.
Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, known collectively as OPEC+, are unlikely to tweak its current oil output policy when they meet virtually on Feb. 1.