Oil futures rally to mark highest settlement in a month


Oil futures rallied on Monday, with U.S. prices up more than 4% to settle at their highest in a month. Prices got a boost given “rising risks of a potential civil war that could put Libyan output at risk and…growing expectations that OPEC+ is positioning themselves to cut production,” said Edward Moya, senior market analyst at OANDA. October WTI crude CLV22, +4.26% rose $3.95, or 4.2%, to settle at $97.01 a barrel on the New York Mercantile Exchange. Front-month prices marked their highest finish since July 29, FactSet data show.

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

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