Investors also weighed some upbeat economic data from the US with both industrial production and homebuilder confidence rising more than expected.
Light Sweet Crude Oil futures for July delivery, the most actively traded contract, edged down
Crude prices for July delivery scaled a high of
Last week, crude oil gained about 4.1%, the biggest weekly gain in a year, amid escalating violence in
The dollar index, which tracks the US unit against six major currencies, traded at 80.47 on Monday, down from its previous close of 80.61 late Friday in North American trade. The dollar scaled a high of 80.71 intraday and a low of 80.42.
The euro traded higher against the dollar at
In economic news from the US, a report from the Federal Reserve of
In a separate report, the Federal Reserve said industrial production in May increased by 0.6% following a revised 0.3% decrease in April. Economists expected production to climb by about 0.5%.
A report from the
Meanwhile, the two-day Federal Reserve meeting kick starts on Tuesday, with the central bank also scheduled to release its updated forecasts apart from the post-meeting policy statement.
Investors will be looking ahead to the
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