Oil futures settled higher Monday on hopes that several weeks of declines in the number of U.S. oil-drilling rigs and talk from major producers over the potential for a freeze in output will help ease excess supplies of crude.But despite volatile moves for the commodity in February, West Texas Intermediate prices finished little changed from where they began.
April Brent crude LCOJ6, +2.48% which expired at the settlement on London’s ICE Futures exchange, tacked on 87 cents, or 2.5%, to $35.97 a barrel. For the month, prices gained 3.5%.
April West Texas Intermediate crude CLJ6, -0.53% settled at $33.75 a barrel, up 97 cents, or 3%, on the New York Mercantile Exchange.
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