Oil dipped for a second session as traders weighed geopolitical developments in the Middle East and the outlook for summer demand.
Brent slipped below USD85 a barrel after closing 0.6% lower on Friday as futures crossed into overbought territory.
West Texas Intermediate was above USD80.
Israel said it would soon end the intense stage of fighting in Gaza and focus on targeted operations, while another ship was attacked near Yemen.
Crude still remains on track for a monthly gain, and there are signs of rising gasoline demand in the US and healthy demand for air travel, which is aiding the outlook.
The prompt spread for Brent has strengthened this month in a bullish backwardation structure, signalling tightening supply. – Bloomberg
