Crude oil futures ended sharply higher on Monday as top importer China flagged its first move toward a loosened monetary policy since 2010 aiming to bolster economic growth. Meanwhile, the collapse of the Assad regime in Syria has added to concerns about geopolitical risk in the Middle East. The rebels have moved to capture Damascus, just days after taking Aleppo, Syria's largest city. The flare-up of tensions in the Middle East helped investors shrug off reports of Saudi Arabia cutting prices by more than expected for buyers in Asia.
Benchmark crude oil futures for January delivery rose $1.17 or about 1.74 percent to settle at $68.37 a barrel on the New York Mercantile Exchange. Brent crude for February delivery gained $1.02 or 1.43 percent to settle at $72.14 a barrel on London's Intercontinental Exchange.
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