Oil settled higher on bullish economic data

International benchmarks for crude oil settled higher on Monday, 8 November 2021 after the US Congress approved the $1 trillion infrastructure bill, which would stimulate economic growth and fuel demand. Besides, China’s October export data beat expectations due to strong global demand ahead of the winter season.

Brent gained 70 cents to close at $83.43/barrel.

WTI rose 68 cents to close at $81.95/barrel.