After a week of sharp decline, oil prices were close to equilibrium on Monday. While Brent shuddered shortly before noon, falling 0.11% to $64.46, WTI advanced 0.39% to $61.66.

Oil is stabilizing after a complicated week. Brent climbed 0.14% to $64.62 and WTI gained 0.21% to $61.55.
A barrel of Brent North Sea oil for May delivery ended at $64.62 in London, up 0.14% or 9 cents from Friday's close.

The US barrel of WTI for April, of which it is the last day of trading, gained 13 cents or 0.21% to 61.55 dollars. For May delivery, it will become the benchmark from Tuesday, advancing 0.19% to $61.56.
Both contracts lost more than 6% last week, a first this year.

Louise Dickson, analyst for Rystad Energy, finds that “there is still some residual pessimism in the market as Europe, instead of finally opening up, is seeing pockets of rising Covid-19 cases, forcing many European countries to reinstate or extend lockdowns.”