Oil futures on Monday gave up early losses to finish higher, with tight supplies returning to the spotlight, providing support for prices.
The market is “waking up to realize” that distillate supplies are so tight that there’s little room for any disruptions, ahead of the winter heating season, said Phil Flynn, senior market analyst at The Price Futures Group. October WTI crude CLV22, +0.33% rose 62 cents, or 0.7%, to settle at $85.73 barrel on the New York Mercantile Exchange.