Oil markets were firm on Monday and remained near multi-month highs reached late last week as the count of US rigs drilling for new production fell and refineries continued to start up after getting knocked out by Hurricane Harvey. US West Texas Intermediate (WTI) crude futures were at $49.83 barrel at 0115 GMT, 6 cents below their last settlement, but still close to the more than three month high of over $50 per barrel briefly reached late last week. Brent crude futures, the benchmark for oil prices outside the United States, were at $55.60 a barrel, down 2 cents but not far off the almost five-month high of $55.99 from late last week.

Demand forecasts from OPEC and IEA continued to improve sentiment in the market. Refineries are also reporting a much better recovery from the recent hurricanes. Oil refineries across the Gulf of Mexico and the Caribbean were restarting after being shut due to hurricanes Harvey and Irma, which battered the region in the past three weeks. The latest was Royal Dutch Shell Deer Park’s 3,25,700 barrel per day joint-venture in Texas, which was restarting on Sunday.

Extra Income In Equity Trading Tips So Missed Call On @ 96444-05056.