Oil prices drifted lower after digesting a surprising build in U.S. crude oil inventories that re-ignited fuel demand anxiety.
More COVID-19 relief programs pushed the yellow metal’s appeal up as an inflation hedge.
Brent oil futures gained 0.68% to trade at $56.28 a barrel adding to yesterday's 2.1% gain.
Brent oil crude futures gained 0.40% to trade at $54.95 while WTI futures were dropped 0.23% to trade at $52.30 a barrel.
Gold futures were up 0.38% at $1,836.80/ounce after hitting the lowest point since December 2 yesterday
Brent crude futures dropped about 1%, to $54.65 a barrel, after losing 2.3% on Friday.
Gold futures prices at their most recent trading session settled at $1,829.90 an ounce, down by 1.2%.
Oil prices were under pressure on fears of recent lockdown measures sighted in China.
Oil prices are under pressure, and recent customs data reveal that crude imports into China were up 7.3% in 2020.
Oil traders are now weighing the ever-rising number of COVID-19 cases and the impact on global energy demand.