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Oil Rises 1% Over Fears Of Return Of Saudi Output

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Oil Rises 1% Over Fears Of Return Of Saudi Output

Oil Rises 1% Over Fears Of Return Of Saudi Output

Reuters reports oil ended about 1% higher after a volatile trading session on Monday.

Traders focused on when Saudi Arabia would be able to restore full output following the Sept.

14 attack on its facilities.

Brent futures gained 49 cents, or 0.8%, to settle at $64.77 a barrel.

U.S. West Texas Intermediate (WTI) crude gained 55 cents, or 1%, to settle at $58.64.

It could take Saudi Arabia months longer than its Aramco oil company anticipated to repair the damage.

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