Monday morning market opening saw U.S. light sweet crude rise 25 cents, or 0.26 percent, to $96.13 per barrel. Other commodities also went up on indication that the world’s second largest economy China is becoming more dynamic, coupled with sanguinity that the nastiest eurozone debt crisis is over and that Japan’s efforts to revive its stagnant economy are paying dividends.
Moreover, Brent oil prices move near a three-month high at $113 a barrel before the Fed’s two-day meeting starting on Tuesday and the employment data on Friday that is expected to show more signs of recovery.
In general, stock indexes showed diversity on Monday as oil prices rose following strong U.S. durable goods data and earnings results from Caterpillar, NBC news reported as markets in the US opened.