Oil prices continued to rise on Monday and posted a seventh-straight consecutive gain, according to Bloomberg MarketWatch.
August West Texas Intermediate crude rose $1.03, or 2.2%, to settle at $47.07 a barrel on the New York Mercantile Exchange.
September Brent crude, the global benchmark, tacked on 91 cents, or 1.9%, to end trading at $49.68 a barrel on the London ICE Futures Exchange.
August natural gas ended at $2.951 per million British thermal units, down 8.4 cents, or 2.8% back on the New York Mercantile Exchange.
“The heat wave that was supposed to hit the Midwest may not be as hot as thought,” said Phil Flynn, senior market analyst at Price Futures Group.