OIL PRICE: NOT ABOVE $68 AGAIN
REUTERS - Oil markets stabilized on Monday after slumping around 2 percent last Friday on concerns over an intensifying trade dispute between the United States and China, as well as increased U.S. drilling activity.
Markets on Monday were also eyeing the situation in Syria after reports - denied by the Pentagon - that U.S. forces had struck a major air base there.
U.S. WTI crude futures CLc1 were at $62.31 a barrel at 0643 GMT, up 25 cents, or 0.4 percent, from their previous settlement.
Brent crude futures LCOc1 were at $67.42 per barrel, up 31 cents, or 0.5 percent.
Oil prices fell about 2 percent on Friday after U.S. President Donald Trump threatened new tariffs on China, reigniting fears of a trade war between the world's two largest economies that could hurt global growth.
"I hope that both sides understand the risks," said Greg McKenna, chief market strategist at futures brokerage AxiTrader.
With Chinese markets closed last Thursday and Friday, Shanghai crude futures ISCc1 played catch-up on Monday, dropping 0.2 percent to around 401.4 yuan ($63.73) per barrel.
"Oil prices have been susceptible to the brewing trade tensions between China and the U.S. ... However, fundamental support levels have been demonstrated with OPEC's suggestion on a production limit extension into 2019," said Singapore-based Phillip Futures.
Oil prices have generally been supported by healthy demand as well as by supply restraint led by the Organization of the Petroleum Exporting Countries (OPEC), which started in 2017 in order to rein in oversupply and prop up prices.
In physical oil markets, OPEC's number two producer Iraq said on Monday that it is keeping prices for its crude supplies in May steady.
In the United States, drillers added 11 rigs looking for new production in the week to April 6, bringing the total count to 808, the highest level since March 2015, General Electric's (GE.N) Baker Hughes energy services firm said on Friday.
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FT - US shale oil companies have started to generate free cash thanks to the rise in crude prices, a landmark moment for an industry that has until now relied on an inflow of capital to support its growth.
WBG - Bank Group must strengthen its financial capacity to meet the aspirations of its shareholders, mobilize capital at scale, and respond to global development challenges.
IMF - we agreed on the need to accelerate structural reforms and access to finance in order to raise overall investment and medium-term growth rates to support job creation. The Fund, through its policy advice, can assist countries to design and implement growth-friendly fiscal adjustment, when needed, that responds to the country-specific sources of debt vulnerabilities while preserving needed investments in infrastructure, human capital, and other priority expenditures
IMF - Directors also agreed that the Fund should continue to address governance issues and corruption in surveillance when the applicable standard of the Integrated Surveillance Decision has been met.