Oil prices have remained near to a six-month low, despite Friday’s US jobs report easing fears about an imminent global recession.
The US economy added 528,000 jobs last month, a figure more than double Wall Street estimates. Brent crude, which fell by 9% last week to its lowest level in almost six months, has remained near to $95 a barrel.
Expectations that the US Federal Reserve will need another big interest rate rise in September to control rising prices boosted the dollar, with attention now focused on July’s inflation reading due on Wednesday.
