At the start of the week, oil is stabilizing in a wait-and-see market. Black gold prices, down at the start of the session, stabilized on Monday.

Oil prices betray investors' questions about demand and the return to the market for Iranian barrels and OPEC+ on the supply side. A barrel of Brent North Sea oil for September delivery, down in London morning, ended up 0.54% or 40 cents at $74.50 from Friday's close. In New York, the US barrel of WTI for the same month fell 16 cents or 0.22% to 71.91 dollars. Earlier, it was down 0.67%. This beginning of the week is however not as hectic as the previous one, when the two black gold market benchmarks had fallen by around 7% before gradually coming back afloat in the following days. Bill O'Grady believes the market is taking a "wait and see" attitude as US demand should still be strong until the Labor Day holiday in early September, which marks the start of the school year and the end of summer travel in the United States . On the other hand, the progression of Covid-19 is limiting the consumption of black gold worldwide through measures restricting the movement of goods and people.