US West Texas Intermediate crude oil futures closed higher on Monday after hitting their lowest level in a year earlier in the day. The sudden reversal in prices was fueled by talks of an OPEC+ production cut, offsetting concerns about tough COVID-19 restrictions in China, the world’s largest crude oil importer.
On Monday, January Crude Oil WTI was $77.24, up $0.96 or +1.26%. That United States Oil Fund ETF (USO) closed at $66.89, down $0.07 or -0.10%.
Analysts at Eurasia…
