Crude oil futures managed to extend the gaining momentum to the new week and ended marginally higher on Monday, shrugging off expectations that US crude stockpiles are set to show a build for the third week in a row, following the aftermath of Hurricanes Harvey and Irma. Demand for crude oil from refiners should start picking up, but early indications show US oil stockpiles rose more than expected during this period. Meanwhile, OPEC is expected to continue talks to extend its production-cut agreement beyond March 2018 in an effort to tackle rising output from Nigeria and Libya - both countries are exempt from production curbs.

Benchmark crude oil futures for October delivery ended higher by 2 cents at $49.91 a barrel on the New York Mercantile Exchange. Brent crude for October delivery fell by 0.3 cent to $55.59 a barrel on the ICE.

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