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Crude oil futures end higher on Monday

21 Mar 2023 Evaluate

Crude oil futures ended higher on Monday after diving to their lowest levels in 15 months amid turmoil in the banking sector. Oil prices rose with a weak dollar triggering some buying as the session progressed. The dollar eased with investors looking ahead to the Federal Reserve's monetary policy meeting. The Fed is widely expected to raise interest rates by 25 basis points.

Benchmark crude oil futures for April delivery rose $0.90 or 1.4 percent to $67.64 a barrel on the New York Mercantile Exchange. Brent crude for May delivery gained $0.73 or 1 percent to $73.70 a barrel on London's Intercontinental Exchange.