Oil Steadies as Geopolitical Risks Counter Russia Port Restart

Oil ticked lower as signs that activity had resumed at a key Russian port were countered by wider geopolitical risks to prices.

West Texas Intermediate fell 0.3% to settle below $60 a barrel after adding more than 2% on Friday following an attack on Russia’s Novorossiysk facility. Two tankers moored on Sunday at the port, indicating operational activity. The dollar strengthened, making commodities priced in the currency less attractive.