Oil futures edged up but then fell on Monday as a possible hurricane makes its way toward the U.S. Gulf Coast, continuing last week’s losses.

Brent crude was up 16 cents, or 0.23%, to $71.22 a barrel at 8:15 a.m. ET while West Texas Intermediate crude futures were 19 cents, or 0.28%, higher at $67.86, Reuters reported.

By 10 a.m. ET, however, Brent crude slipped 26 cents, or 0.37%, to $70.80 a barrel by 10 a.m. ET while West Texas Intermediate crude futures were down 21 cents, or 0.3%, at $67.53.

Prices of Brent crude had dropped over the past six trading sessions, falling by more than 11%, or almost $9 a barrel, to post the lowest closing price since December 2021 on Friday.

Analysts noted that Monday’s brief rebound was driven in part by concerns over a potential hurricane approaching the U.S. Gulf Coast, along with supply disruptions from Libya, which have been pushing ...