Oil Closes Higher amid Supply Disruptions

Oil prices finished higher on Monday, due to supply disruptions in Libya and expectations for a recovery in the global demand.

Brent Crude futures for May increased by 24 cents, or 0.36%, to $67.01 per barrel.

Meanwhile, the May West Texas Intermediate (WTI) crude futures gained 25 cents, or 0.4%, to close at $63.38 a barrel.

Last week, the global and U.S. benchmark crudes achieved gains of more than 6% on the back of positive expectations for demand recovery by the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA).