Oil held at a three-month high over $96 a barrel Monday, as European leaders were set to meet to discuss ways to combat their ongoing debt crisis, Bloomberg reported.
Crude futures rose to $96.15 a barrel on the New York Mercantile Exchange, up 14 cents from Friday’s closing price, Bloomberg said.
Friday’s finishing price was the highest since May 11 and the first time oil has closed over $96 a barrel since then, Bloomberg Nymex figures showed.
The Department of Energy will release its weekly survey of diesel and gasoline pump prices Monday afternoon in Washington. Prices for both fuels have risen for six straight weeks.