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The oil market continues to remain over supplied, with June futures for North Sea Brent blend falling by 0.29%, to $65.09 per barrel in the global trading on Monday.
June futures for WTI crude oil were down by 0.4%, to $56.92 per barrel, Reuters reports.
According to analysts, the oversupply in the oil market and weak demand persists, causing collapse of oil prices by more than 50% since June last year to January 2015.
Some strengthening of oil prices is caused by news from Yemen, where the military operation of the Arab coalition led by Saudi Arabia to eliminate Houthi rebels has been under way since March 26.