Oil prices climbed for a third consecutive session Monday to mark a fresh high for the year on continued bets for tighter global crude supplies. “Taming the current bullishness will likely rest on non-OPEC production – especially U.S. shale – showing a stronger response to higher prices and lifting global supply,” said Robbie Fraser, manager, global research & analytics at Schneider Electric. “There are early signs of that occurring, but it will need to be stronger and more consistent to reverse course.” October West Texas Intermediate crude
CLV23,
rose 71 cents, or 0.8%, to settle at $91.48 a barrel on the New York Mercantile Exchange.