Brent crude futures for September settlement gained $5.11, or 5.1%, to settle at $106.27 a barrel, after rising 2.1% on Friday. U.S. West Texas Intermediate (WTI) crude futures for August delivery settled up $5.01, or 5.1%, at $102.60 after rising by 1.9% in the previous session.
NEW YORK: Oil prices rose more than US$5 on Monday, boosted by dollar weakness and expectations that the U.S. Federal Reserve won't raise interest rates by a full percentage point at its next meeting to combat inflation.
Brent crude futures for September settlement gained $5.11, or 5.1%, to settle at $106.27 a barrel, after rising 2.1% on Friday.
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