#outputcuts

Oil prices dropped on Monday as several countries reported new cases of infections, raising concerns of a second wave amid a recovery in fuel demand. Brent crude fell 2.4%, or 93 cents, at $37.80 per barrel.

Oil prices fell earlier on Friday, losing a portion of its gains from the previous session. The decline comes amid uncertainty as to whether OPEC will extend its plan to cut output after the month of June.

Oil prices gained on Tuesday, lifted by major oil producers  commitment to the production cuts and recovering fuel demand. Brent crude futures rose 1.4%, or 50 cents, at $36.03 per barrel. U.S. West

Oil prices gained over $1 per barrel on Monday, hitting more than a month-high as production cuts and demand recovery provided a floor for the market. Brent crude rose 3.7%, or $1.19, at $33.69 per barrel.

Oil prices rose in Asia on Friday after Russia and Saudi Arabia signaled additional output cuts in a joint statement. Russian Energy Minister Alexander Novak and his Saudi counterpart Prince Abdulaziz

Commodity currencies fell against their safe-haven counterparts on Monday after a record output cut settled upon by OPEC+ did not ease investor concerns over a declining global demand. The Australian Dollar