Oil settles higher on Chinese factory data

Brent crude settled up US59 cents, or 1.3%, to $44.99 a barrel. West Texas Intermediate U.S. crude was up 72 cents, or 1.8%, to $41.94 a barrel.

NEW YORK: Oil settled higher on Monday, supported by data suggesting Chinese factories were returning to pre-pandemic levels, signs of rising energy demand and hopes for an agreement in the United States on more coronavirus-related economic stimulus.

Brent crude settled up US59 cents, or 1.3%, to $44.99 a barrel. West Texas Intermediate U.S. crude was up 72 cents, or 1.8%, to $41.94 a barrel.