U.S. oil futures close at their highest since 2014

Oil futures rallied on Monday, lifting U.S. benchmark prices to their highest finish since 2014, after the Organization of the Petroleum Exporting Countries and their allies agreed to keep their current production deal in place, raising output by 400,000 barrels per day in November. Traders are concerned that the size of the production boost won’t be enough to meeting growing demand for oil, analysts said. West Texas Intermediate crude for November delivery rose $1.74, or 2.3%, to settle at $77.62 a barrel on the New York Mercantile Exchange. Based on the front-month contracts, prices ended at their highest since November 2014, FactSet data show. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

U.S. oil futures close at their highest since 2014
Oil futures rallied on Monday, lifting U.S. benchmark prices to their highest finish since 2014, after the Organization of the Petroleum Exporting Countries and their allies agreed to keep their current production deal in place, raising output by 400,000 barrels per day in November. Traders are concerned that the size of the production boost won’t be enough to meeting growing demand for oil, analysts said. West Texas Intermediate crude for November delivery rose $1.74, or 2.3%, to settle at $77.62 a barrel on the New York Mercantile Exchange. Based on the front-month contracts, prices ended at their highest since November 2014, FactSet data show. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.