Oil Rallies Near $34 For Monthly Gain

Crude oil prices continued to rally Monday, booking a monthly gain amid hopes for a deal to freeze output from Saudi Arabia.

Nigerian oil minister Emmanuel Ibe Kachikwu told CNBC that “there is a lot of conversation going on and there’s a lot of consensus building on the issue of the freeze.

He says Saudi Arabia and Russia are in on the plan.

WTI oil settled up 3% for the day, rising to $33.75 a barrel on the New York Mercantile Exchange.

Prices have been rising since a 13-year low near $26 about a month ago.

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