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WTI crude futures rose to trade around $42.2 a barrel on Monday, after reports that China plans to ship at least 20 million barrels of US crude for August and September.
Putting a lid on prices were concerns that a recent spike in global coronavirus infections could stall recovery in fuel demand.
Investors now await for a meeting of a panel representing ministers of the OPEC+ later this week. The meeting of the panel has been pushed back to August 19th, a day later than previously planned.
