Oil futures finished Monday at their highest level in more than a week as global stock markets soared as opinion polls indicated the U.K. was more likely to remain in the European Union.Natural-gas futures, meanwhile, rallied to their highest level since September as warmer weather forecasts for the next several days pointed to higher demand for the commodity.
July West Texas Intermediate CLN6, -0.41% tacked on $1.39, or 2.9%, to settle at $49.37 a barrel on the New York Mercantile Exchange. The July contract expires at Tuesday’s settlement and August CLQ6, -0.42% will become the front month for WTI.
August Brent crude LCOQ6, -0.53% rose $1.48, or 3%, to $50.65 a barrel on London’s ICE Futures exchange. Both crude contracts settled at their highest levels since June 9.
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