Oil futures log a second gain in a row

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 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.

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