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Crude oil futures end higher on Monday

02 Apr 2024 Evaluate

Crude oil futures ended higher on Monday amid concerns about a possible drop in supplies following reports about an Israeli strike near the Iranian embassy in Damascus. Further, data showing an expansion in Chinese manufacturing activity in March has also raised optimism about a pick up in demand from the world's second largest economy. Besides, traders were also continuing to weigh the impact of Ukrainian attacks on Russian refineries.

Benchmark crude oil futures for May delivery rose $0.54 or about 0.65% to settle at $83.71 a barrel on the New York Mercantile Exchange. Brent crude for June delivery gained $0.42 or 0.48% to $87.42 per barrel on London's Intercontinental Exchange.