Light Monday trading helped crude oil build on gains it made on Friday. It was only a half day of trading on the New York Mercantile Exchange due to President’s Day. March West Texas Intermediate crude added 39 cents to settle at $29.83 a barrel. April Brent tacked on 31 cents to end trade at $33.67 a barrel on the London ICE Futures Exchange.
Markets were likely drifting in the positive direction due to Friday’s signal from the United Arab Emirates that it would be open to production cuts within OPEC and in coordination with non-OPEC producers.
March natural gas futures slipped by a nickel on Monday to settle at $1.920 per million British thermal units on the New York Mercantile Exchange.
