Oil futures jumped on Monday in relatively light trading, pushed higher by momentum from the corrective rally that began late last week. Global benchmarks have shed over $10 over the past three weeks, leading to a rising chorus from analysts that oil has been oversold and ready for a bullish run as the Northern Hemisphere enters summer driving season. In London, Brent crude for July delivery gained $1.71 on Monday to close at $77.01 per barrel, while in New York, the June contract for West Texas Intermediate (WTI) on Nymex climbed by $1.82 to settle at $73.16/bbl.
展开▼
