Crude oil prices bounced back above $60 a barrel Monday morning amid renewed conflict in Iraq and Yemen.
With tensions there threatening to de-stabilize the region, crude oil prices have rallied this month despite a global supply glut.
Light, sweet crude futures for delivery in June rose 80 cents, or 1.3%, to $60.49 a barrel.
On the economic front, the National Association of Home Builders is due to release its housing market index for May at 10 am ET. Economists expect the index to rise to 57 in May from 56 in April.
The material has been provided by InstaForex Company – www.instaforex.com