US stock futures were up Sunday evening. But oil futures fell, a sign that investors may be feeling pessimistic that a resolution to the price war between Saudi Arabia and Russia — a disagreement which has driven oil prices to their lowest in decades — will really be coming this week.
Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday's trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut production.
Global benchmark oil prices are expected to open lower on Monday as a dispute between top crude exporters Russia and Saudi Arabia raises concerns of another collapse in talks to curb production at a meeting this week.
Saudi Aramco will delay
the release of its crude official selling prices (OSP) for May
until April 10 to wait for the outcome of a meeting between OPEC
and its allies regarding possible output cuts, a senior Saudi
source familiar with the matter said on Sunday.
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