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 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.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.