Oil Futures Settle At a 4-week High

Oil futures settled at their highest level since July 15 on Monday as Russia reportedly said it’s willing to cap production along with other crude producers if necessary. The comments fed expectations that major producers may agree to freeze output at an informal meeting set for next month. September WTI crude rose $1.25, or 2.8%, to settle at $45.74 a barrel on the New York Mercantile Exchange. [Updated to revise preliminary closing price details.]