Brent crude futures rose 9 cents, or 0.14%, to $63.84 a barrel, while US West Texas Intermediate crude was at $60.16, up 8 cents, or 0.13%.

Both contracts closed Friday’s trading session at their highest levels since November 18. Markets are pricing in an 84% chance of a quarter-point cut at the Fed meeting on Tuesday and Wednesday, LSEG data showed. However, board member comments indicate the meeting is likely to be one of the most divisive in years, intensifying investor focus on the bank’s policy direction and internal dynamics.

In Europe, progress in Ukraine peace talks remains slow, with disputes over security guarantees for Kyiv and the status of Russian-occupied territory still unresolved. The US and Russian officials also have differing views on the peace proposal tabled by the administration of US President Donald Trump.

–Reuters–