Brent on New 11-Month High

U.S. crude futures gained higher on Monday, extending the more than 2 percent gains in the previous session that were spurred by a surge in Brent crude.

NYMEX crude for August delivery was trading 25 cents higher at $74.18 a barrel in Globex electronic trading by 2319 GMT.

Brent surged to a new 11-month high of $77.57 a barrel on Friday on speculative buying as North Sea production problems and forecasts for rising demand tightened the supply outlook. -Neftegaz.ru