Oil loses its gains after estimates of the stability of the volume of US production. A barrel of Brent crude fell marginally by 0.04% to $78.56 a barrel, while a barrel of US crude settled at $73.26, at the time of preparing the report.
Dealers are closely following the situation in the Middle East, especially the attacks launched by the Houthi group in Yemen on ships in the Red Sea that say they are Israeli or heading to Israel, which have disrupted traffic through the Suez Canal.