Oil futures settled higher Thursday for a sixth straight session, with prices finishing at their highest level since July 1, according to FactSet data. Prices got a boost from a decline in the U.S. dollar, recent data showing a weekly decline in U.S. crude supplies and the potential for a production freeze at an informal meeting of the Organization of the Petroleum Exporting Countries late next month. September WTI crude rose $1.43, or 3.1%, to settle at $48.22 a barrel on the New York Mercantile Exchange. Prices are now 22% above the low from earlier this month, taking oil into bull-market territory.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.