Futures Movers: Brent oil down but WTI gains, as investors assess OPEC’s decision

U.S. and international oil futures were moving in opposite directions on Monday, amid some uncertainty in the wake of an agreement by the Organization of the Petroleum Exporting Countries to ramp up production that was backed by non-member Russia.

August West Texas Intermediate crude on the New York Mercantile Exchange CLQ8, -0.20% edged up by 3 cents to $68.60 a barrel, but August Brent crude LCOQ8, -1.71% fell $1.65, or 2.2%, to $73.90 a barrel on the ICE Futures Europe exchange.

Prices for both contracts rallied on Friday, after OPEC officials said they agreed to increase production by 1 million barrels a day, a deal that was supported by major producer Russia on Saturday.

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