Crude oil prices are trading with a slight increase with the easing of quarantine measures and decline in the number of US oil rig.
International benchmark Brent crude is at $35.22 per barrel at 0627 GMT on Monday after closing at $35.13 per barrel on Friday, and American benchmark West Texas Intermediate (WTI) is trading at at $33.53 a barrel at the same time on Monday.
The oil rig count in US has declined for tenth consecutive week, according to the latest data released by oilfield services company Baker Hughes on Friday.
The number of oil rigs, an indicator of short-term production in the country, fell by 21 to reach 237 for the week ending May 22, from 258 the previous week. In the past ten weeks, the decline in US oil rig count totaled 446, according to the data.
The slight increase came after the softening of quarantine measures in some Asian and European countries against the novel coronavirus (COVID-19) that crippled global oil consumption overall and weakened oil demand.
Crude oil prices gained last week with the easing of quarantine measures and a surprise decline in US crude inventories, but lost most of the gains on Friday with rising tensions between the world's two largest economies and oil consumers; China and the US.
By Gulsen Cagatay