Investors are also cautious before a US Federal Reserve meeting that may spur market volatility
Singapore — Oil prices fell on Monday, giving up earlier gains, as global producers are likely to keep output unchanged during a meeting this week and investors are cautious before a US Federal Reserve meeting that may spur market volatility.
Still, an indication of a rise in crude exports from Russia's Baltic ports in early February caused Brent and WTI to post their first weekly loss in three last week. “It is not really clear yet what's happening in Iran, but any escalation there has the potential to disrupt crude flow,” said Stefano Grasso, a senior portfolio manager at 8VantEdge in Singapore.
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