LONDON—Oil prices gained on Monday with U.S. fuel demand, tight supply, and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown that fuelled worries about a sharp slowdown in growth.
Brent crude futures rose $1.12 or 1 percent to $113.67 a barrel at 0912 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed 96 cents, or 0.9 percent, to $111.24 a barrel, adding to last week’s small gains for both contracts.
