The prices of oil futures rose on Monday possibly boosted by the optimism registered on Wall Street last week, as the banking jitters seemingly subsided.
Federal Reserve Bank of St. Louis President James Bullard previously shared that "the rumors of the demise of the United States economy are greatly exaggerated," adding that the problems in the country's financial sector "can be managed."
West Texas Intermediate (WTI) for settlements in June soared 1.96%, to sell at $72.74 per barrel at 4:44 am ET. Brent for deliveries in July jumped 1.78%, to go for $76.61 per barrel a minute later.
