U.S. oil futures up over 17% for the month


This corrects the reference date for the strongest monthly percentage rise.

Oil futures climbed Monday, with U.S. prices up over 17% for the month — the largest such rise since February 2021, according to Dow Jones Market Data. Traders remained focused on the potential threat to oil supplies from Russia, which on Monday said the United States was “provoking an escalation” of the situation with Ukraine by falsely charging Moscow with preparing to invade Ukraine, according to a report from The Washington Post. West Texas Intermediate crude for March delivery CLH22, +1.79% rose $1.33, or 1.5%, to settle at $88.15 a barrel on the New York Mercantile Exchange. For the month, the front-month contract gained 17.2%. Prices also marked their highest settlement since early October 2014.

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

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