Oil futures climbed Monday, with U.S. prices settling at their highest in more than two weeks. Traders weighed Russia’s plan to cut its oil output by 500,000 barrels per day in March and awaited Tuesday’s consumer-price index data for hints on the Federal Reserve’s next move on interest rates and the outlook for the U.S. economy. U.S. benchmark West Texas Intermediate crude for March delivery CLH23, -0.92% rose 42 cents, or 0.5%, to settle at $80.12 a barrel on the New York Mercantile Exchange. That was the highest finish for a front-month contract since Jan. 26, FactSet data show.
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