NEW YORK (Nov 8): Oil prices settled more than 1 percent higher on Monday, supported by news that U.S. Democratic presidential candidate Hillary Clinton will not face charges over her emails. Gains, however, were capped by a rallying dollar on Clinton's improved prospects, making greenback-denominated oil more expensive for holders of other currencies, and by doubts over OPEC's planned production cuts. U.S. West Texas Intermediate (WTI) crude settled at $44.89 per barrel, up 82 cents, or 1.9 percent. The Federal Bureau of Investigation said on Sunday it would not press charges against Clinton over her using a private email server. "Market belief that OPEC can reach a credible deal has collapsed," David Hufton, managing director of PVM Oil Associates, said in a note.

Source: The Edge Markets November 07, 2016 22:50 UTC