Oil futures finish higher on signs of stronger global demand

Oil futures settled higher on Monday, supported by signs of stronger global demand, even as India continues to suffer from record daily cases of COVID-19. “To some degree, given the onset of warmer weather in many parts, the worst of the pandemic may be priced in and this will bring a tailwind of [oil] demand,” said Phillip Streible, chief market strategist at Blue Line Futures. June West Texas Intermediate crude rose 91 cents, or 1.4%, to settle at $64.49 a barrel on the New York Mercantile Exchange.

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.