Oil
futures settled at their highest level in almost three weeks on Monday,
buoyed by expectations for output declines and signs of stronger demand
for crude.
Prices
also got a boost after a U.S. government report showed that domestic
shale-oil production was forecast to fall by 114,000 barrels a day next
month.
May
WTI crude rose 64 cents, or 1.6%, to settle at $40.36 a barrel on the
New York Mercantile Exchange. That was the highest settlement since
March 22.
Source: MarketWatch
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