Oil futures edged higher early Monday, as traders largely took in stride a short-lived mutiny by Russia's Wagner Group that raised questions about President Vladimir Putin's grasp on power.
West Texas Intermediate crude for August delivery rose 28 cents, or 0.4%, to $69.44 a barrel on the New York Mercantile Exchange.
August Brent crude, the global benchmark, rose 43 cents, or 0.6%, to $74.28 a barrel on ICE Futures Europe. September Brent, the most actively traded contract, gained 36 cents, or 0.5%, to $74.37 a barrel.
Back on Nymex, July gasoline was up 0.4% at 2.529 a gallon, while July heating oil jumped 1.1% to $2.436 a gallon.
July natural gas added 1% to $2.755 per million British thermal units.
The mutiny, led by Wagner Group chief Yevgeny Prigozhin late Friday, saw the mercenary paramilitary force take over Russia's southern military headquarters in Rostov-on-Don amid little resistance before marching largely unchallenged toward Moscow. Putin, without mentioning him by name, accused Prigozhin of treason.
The advance halted a little more than 120 miles from the capital on Saturday before Prigozhin abruptly stood down in a deal that would see him sent to Belarus and charges against him of leading an armed rebellion dropped.
Source : MarketWatch
