U.S. benchmark oil futures settled with a gain on Monday, after spending the session seesawing between negative and positive territory, as traders weighed the potential impact of what the Federal Reserve referred to as "aggressive action" needed to soften the coronavirus pandemic's blow to the economy. The central bank said it would buy unlimited amounts of Treasurys and securities tied to home and business mortgages to support the financial market.
May West Texas Intermediate oil rose 73 cents, or 3.2%, to settle $23.36 a barrel on the New York Mercantile Exchange.
Source: Marketwatch