Oil futures log a second gain in a row

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Oil futures rose on Monday to score a second gain in a row, with the U.S. crude benchmark settling at its highest price in almost a week. Upbeat U.S. economic data helped to ease worries about a potential slowdown in energy demand as the Group of Seven nations was set to announce an agreement to implement a price cap on Russian oil. West Texas Intermediate crude for August delivery CLQ22, +1.06% rose $1.95, or 1.8%, to settle at $109.57 a barrel on the New York Mercantile Exchange. Prices based on the front month settled at their highest since June 21, FactSet data showed.

This article was originally published by Marketwatch.com. Read the original article here.

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