Oil Prices Settle At One-month High

By Myra P. Saefong Markets MarketWatch Pulse

Oil prices climbed Monday to settle at their highest level in about a month on growing expectations that members of Organization of the Petroleum Exporting Countries will agree to extend production cuts beyond the end of this year. June West Texas Intermediate crude rose 40 cents, or 0.8%, to settle at $50.73 a barrel on the New York Mercantile Exchange. The contract expired at the session's end. July WTI crude , which is now the front-month contract, settled at $51.13, up 46 cents, or 0.9%.

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