Crude oil futures ended higher on Monday as traders expect improved demand from China in 2025 after the recent stimulus measures take hold. A private report last week said that Chinese authorities have agreed to issue a record 3 trillion yuan ($411 billion) in special treasury bonds in 2025 to revive growth. Further, oil prices were also supported by a sharp surge in natural gas prices after forecast of a colder-than-normal weather across the Eastern and Midwest regions of the U.S.
Benchmark crude oil futures for January February rose $0.73 or about 1.04 percent to settle at $70.99 a barrel on the New York Mercantile Exchange. Brent crude for February delivery gained $0.22 or 0.30 percent to settle at $74.39 a barrel on London's Intercontinental Exchange.