Crude futures settled higher Monday, supported by recent supply disruptions, both real and anticipated. Receive daily email alerts, subscriber notes & personalize your experience. ICE September Brent settled 96 cents higher at $78.07/b, while NYMEX August WTI settled 5 cents higher at $73.85/b. NYMEX crude was stronger further out on the curve, with the September contract settling 41 cents higher at $71.98/b and the October contract jumping 71 cents to close at $69.75/b. Production losses out of Libya, Venezuela and Canada have been supportive for the oil complex. According to Commerzbank commodities analysts, unscheduled outages in Libya and Canada will offset most of the announced increase in crude oil production, meaning that the oil market will remain tight in the short term. Moreover, “if shortfalls in Iranian oil supply due to US sanctions then compound the situation in the autumn, there is a risk of […]