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May 3, 2021, 3:17 p.m. EDT

Oil futures finish higher on signs of stronger global demand

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By Myra P. Saefong

Oil futures settled higher on Monday, supported by signs of stronger global demand, even as India continues to suffer from record daily cases of COVID-19. "To some degree, given the onset of warmer weather in many parts, the worst of the pandemic may be priced in and this will bring a tailwind of [oil] demand," said Phillip Streible, chief market strategist at Blue Line Futures. June West Texas Intermediate crude rose 91 cents, or 1.4%, to settle at $64.49 a barrel on the New York Mercantile Exchange.

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