WASHINGTON (dpa-AFX) - Oil prices eked out modest gains on Monday after suffering another weekly loss due to Fed's cautious stance on rate cuts.
Focus shifted to an OPEC+ meeting on June 2 where producers are expected to discuss whether to extend voluntary output cuts of 2.2 million barrels per day into the second half of the year.
Benchmark Brent crude futures rose 0.4 percent to $82.18 a barrel, while WTI crude futures were up 0.3 percent at $77.98.
The dollar made a steady start to the week ahead of speeches from the Fed's Bowman, Mester and Kashkari due on Tuesday and the first reading of U.S. GDP for the first quarter due on Thursday.
Traders also await U.S., European, Japanese and Australian inflation readings this week for clarity on the global interest rate outlook.
Euro zone May consumer prices data for May could provide additional clues on whether the European Central Bank will cut interest rates next week.
The release of the Fed's preferred inflation gauge on Friday could help traders access the timing and pace of Fed rate cuts this year.
Geopolitical tensions also remained on investors' radar after at least 35 Palestinians were killed and dozens more were injured as a result of Israeli air attacks on a camp in Rafah for displaced people on Sunday.
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