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Oil futures climbed on Monday, with the U.S. benchmark marking its highest settlement month to date. The “bullish trifecta pushing the envelope [Monday] are faltering Iranian nuclear discussions, broad based recovery in the U.S. capital markets and resilient strength in U.S. wage growth,” said Manish Raj, chief financial officer at Velandera Energy Partners. October WTI crude climbed 99 cents, or 1.1%, to settle at $87.78 a barrel on the New York Mercantile Exchange. Prices for the front-month contract marked their highest finish since Aug. 31, according to Dow Jones Market Data.
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