An oil pump jack in the oil town of Gonzales, Texas.
Oil markets were stable on Monday, largely holding on to Friday’s big gains even though rising U.S. output weighed on hopes the market will tighten after a 13 percent fall in U.S. crude inventories since March.
Brent crude futures, the international benchmark for oil prices,were at $52.70 per barrel at 0302 GMT, down a cent from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $48.54 abarrel, up 3 cents from their last settlement.
This came after a 3 percent jump in prices on Friday.
