West Texas Intermediate (WTI) crude futures rose 32 cents to $44.80 a barrel after falling $1.84, or 4 per cent, in the previous session. U.S. crude gained 3 per cent last week. "Our base case is that OPEC will meet on Sept. 28 without a formal statement. A nonbinding commitment to stabilise oil markets is possible, but it would likely lack teeth," Morgan Stanley said in a note on Monday. "Rather, we expect OPEC to note how this meeting lays the foundation for a more constructive and formal discussion at the official November OPEC meeting," the bank added.

Source: Economic Times September 26, 2016 08:19 UTC