The gloomy movement in black commodity trading adorned the market during the Asian session amid investors' concerns over the global coronavirus case which continues to increase on a daily basis.
The benchmark Brent crude futures traded stable at $ 52.30 a barrel, while the US WTI rose slightly to $ 55.66 a barrel.
Rising oil prices came to a halt after soaring highs since February, with the strengthening of the US dollar reducing the attractiveness of commodity trading as well as being influenced by market concerns over fuel demand.
The number of Covid-19 cases worldwide exceeded 90 million on Monday, as many countries are waiting to receive the vaccine and stricter restrictions are being implemented to combat the spread of new variants of outbreaks detected in the UK.
China, the world's second-largest consumer of crude oil, is currently facing a new wave of coronavirus infection with authorities implementing movement restrictions in Hebei's capital, Shijaizuang, which is also at the center of the spread.
Meanwhile, US crude oil supply is expected to decline for the fifth consecutive week causing limited oil prices to slow down and move slowly.
