Crude oil futures continued their up-move on for the eighth straight session, the longest such streak in months and ended up by over two percent on Monday, after data pointed to diminished U.S. output, though Ripples Advisory reports said news of rising OPEC production could cap gains. Meanwhile, traders continued getting support with report that the U.S. rig count fell last week for the first time in about five months, while US government data showed crude output fell in April for the first time this year.

Benchmark crude oil futures for August delivery surged by $1.03 or 2.2 percent to $47.07 on the New York Mercantile Exchange. In London, Brent crude for August delivery ended up 0.91 cents at $49.68 a barrel on the ICE.

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