Crude oil futures ended higher on Monday as China announced a slew of measures to boost the sagging economy. China approved the launch of 37 retail funds over the weekend and also halved the stamp duty on stock trading in the latest attempt to boost struggling markets. However, lingering concerns about the pace of global economic growth and uncertainty about the outlook for US interest rates limited oil's upside. Also, speculation that the US could ease sanctions on Venezuela in a bid to boost supply limited oil prices' gain.
Benchmark crude oil futures for October delivery gained $0.27 or about 0.3 percent to settle at $80.10 a barrel on the New York Mercantile Exchange. However, Brent crude for October delivery lost $0.06 or 0.07 percent to settle at $84.42 a barrel on London's Intercontinental Exchange.