The oil complex has been driven by supply concerns amid prospects that most significant driver in oil price sentiment.

SINGAPORE: Oil prices edged lower on Monday as a rising rig count in the United States pointed to higher production, but prices held near more than three-year highs and were on track to rise for a second consecutive month.

The oil complex has been driven by supply concerns amid prospects of the United States reimposing sanctions on Iran, while OPEC-led producers continue to withhold supplies.

Brent crude futures, the international benchmark, dipped 34 cents, or 0.5 percent, to $74.30 a barrel in early trading. Prices climbed as high as $75.47 last week, levels not seen since November, 2014.

U.S. West Texas Intermediate (WTI) crude futures were at $67.98 a barrel, down 12 cents, or about 0.2 percent, from their last settlement.

"There's a small drop in trading this morning but volumes are low and there's not much commitment in the selling. The overall trend is positive and there's potential for the market to close higher again today," said Michael McCarthy, chief marketing strategist at CMC Markets.

"The underlying strength in crude markets is quite impressive and a lot of it is predicated by sanctions... Other than that it's the demand picture around the globe, and if that continues we could see higher prices."

U.S. drillers added five oil rigs in the week to April 27, bringing the total count to 825, the highest level since March 2015, General Electric's Baker Hughes energy services firm said.

"The increase in rigs is modestly bearish for oil prices because increasing rigs is usually associated with increasing supply," Bill O'Grady, chief market strategist at Confluence Investment Management said in an email.

"However, the increase in rigs was modest and this news is overshadowed by other things, including Angola's production decline, the potential for an end to the Iranian nuke deal, continued threats by Houthis to Saudi oil shipping and infrastructure."

U.S. crude production has soared more than 25 percent since mid-2016 to a record 10.59 million barrels per day (bpd). Only Russia currently produces more, at around 11 million bpd.

Brent prices have gained nearly 6 percent this month, buoyed by expectations the United States will renew sanctions.

U.S. President Donald Trump has until May 12 to decide whether to restore sanctions on Iran that were lifted after an agreement over its disputed nuclear programme.

"Precisely what happens with Tehran's nuclear program remains the most significant driver in oil price sentiment," said Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA.

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Have To Become The Digital Bank Of Choice : Maybank

Typical to close, migrate branches: Maybank

Multi Management and Future Solutions Malaysia: Malayan Banking Bhd (Maybank) has neither denied nor affirmed the legitimacy of a "spilled" rundown of 27 Maybank branches evidently to be shut down.

Bunch president and CEO Datuk Abdul Farid Alias said he had not seen the rundown and would not remark on the legitimacy of the report.

Nonetheless, he said that it is an ordinary practice for the bank to close and move, where numerous branches exist and bring no monetary sense.

"This doesn't mean the bank would not open new branches accordingly a move is a piece of the bank's office improvement arrangement.

"The branch is our physical channel. To us, all channels, whether they are computerized or physical space, are still vital and pertinent, contingent upon areas."

Abdul Farid, who said this when disclosing the bank's budgetary results as of late, included that conclusion and migration of bank offices were typical business methodology considering the best gainfulness center.

Going ahead, he said the gathering would concentrate on items and markets that it was focusing on, be it be in the physical or computerized space.

Industry insightful, the managing an account scene is contracting in the physical world while becoming progressively in the advanced space, stressed by the developing push of money related innovation (fintech).

A report distributed in March this year by American saving money combination, Citigroup Inc, predicts there will be roughly 800,000 less bank occupations in the United States by 2025, while the decrease in Europe will be somewhat more extreme.

The report entitled "Digitsal Disruption: How FinTech is Forcing Banking to a Tipping Point" noticed that the primary offender for an anticipated 30 for every penny scaling back in the American part, including that keeping money throughout the following decade will be fintech.

This perspective was resounded by the gathering's Malaysian arm, Citibank Bhd (Citi Malaysia), saying they have no aim of augmenting their nearness here, past their current 11 branches across the country.

With respect to Maybank, the gathering had recently divulged its 2020 vital goals, the Maybank2020, went for being Asean's driving money related administrations supplier.

One of the motivation towards this goal is to wind up the "advanced bank of decision."

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