Oil futures erased earlier losses to close higher Monday, rallying into the final bell, with the U.S. benchmark settling above $50 a barrel. West Texas Intermediate crude for September delivery on the New York Mercantile Exchange rose 46 cents, or 0.9%, to close at $50.17 a barrel. For the month, oil rallied 8.9%, according to FactSet, its biggest monthly gain of the year.
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