Oil prices surged early Monday in New York, extending an uptrend for crude, as major energy producers declined to commit to increasing crude output to address expected supply disruptions at a closely watched producer meeting.
November West Texas crude CLX8, +1.85% traded $1.30, or 1.8%, higher at $72.07 a barrel, on the New York Mercantile Exchange, following a weekly gain of more 2.6%.
LCOX8, +2.55% rose $1.86, or 2.4%, to reach $80.10 a barrel on the ICE Europe exchange, following a weekly advance for crude of 0.9%.
