LONDON: Oil prices diverged on Monday, with New York crude weighed down by bulging US crude stockpiles and Brent supported by concerns about supply disruptions from the Middle East, analysts said.
New York's main contract, West Texas Intermediate (WTI) for delivery in December, fell 38 cents to $97.47 a barrel.
Brent North Sea crude for December rose 73 cents to stand at $107.66 a barrel in London afternoon deals compared with Friday's close.
US prices were weighed down by a surge in stockpiles at the Cushing, Oklahoma, delivery point for WTI futures, said Tan Chee Tat, investment analyst at Phillip Futures in Singapore.
"Any further increase in US crude oil stocks is likely to put renewed pressure on oil prices as the week progresses," said Commerzbank analyst Carsten Fritsch.
"On the other hand, surveys of OPEC production are likely to show that Libya again produced significantly less oil in October. This should lend support to the Brent price because Libyan oil and Brent oil have similar characteristics.
"There is thus much to suggest that we will see a renewed widening of the price gap between Brent and WTI," he added.
US prices were weighed down by a surge in stockpiles at the Cushing, Oklahoma, delivery point for WTI futures, said Tan Chee Tat, investment analyst at Phillip Futures in Singapore.
Data from the US Department of Energy last Wednesday showed that American crude reserves had soared 5.2 million barrels in the week ending October 18.
That came quickly after a report for the prior week, delayed by the recent partial US government shutdown, that showed another big rise in inventories.
"We are likely to see some relief in stockpiles with the seasonal maintenance in US refineries coming to an end after October," Tan told AFP.
Investors are meanwhile keeping an eye on crude producer Libya.
Libyan oil exports had plunged by more than 70 percent after protesters, including policemen and border guards, recently forced the terminals to shut over demands for back pay.
"Uncertainties remain as the protests have not been completely resolved. Possible tightening in Libya ... is likely to keep Brent crude prices supported," Tan said.
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