Oil prices remained stable on Monday, when the markets monitored diplomatic efforts to end the war in Ukraine and waited for clarity in restarting raw exports from northern Iraq.
Brent crude rose 13 cents to $ 74.56 a barrel by 1103 GMT, while crude in West Texas Intermediate (WTI) added 11 cents to $ 70.51.
Both standards decreased by more than two dollars on Friday, when a weekly decrease in Brent and 0.5 % for WTI. The market still focuses on efforts to end the war of Russia, which is entering its fourth year on Monday.
European Union leaders will meet on March 6 to discuss more support for Ukraine, while Russian and American teams have been appointed to talk this week.
The sanctions on Russian oil exports continue to influence the global supply, but the end of the war will not necessarily increase Russian crude flows due to the borders of OPEC+production. Meanwhile, Iraq is preparing to export 185,000 barrels per day from the oil fields in Kurdistan as soon as the shipments are resumed through the Iraqi pipeline, although the schedule is still uncertain.
