us oil futures settled higher for a third session in a row on monday with the gains a “function of increasing optimism for consumer demand in china as the government is rapidly abandoning covid restrictions and reopening the economy” said tyler richey coeditor at sevens report research meanwhile in the us “rates markets are pricing in a lower ‘terminal rate’ for the federal reserve’s policy rate this year largely thanks to the soft wage print in friday’s jobs report” the us benchmark wti crude for february delivery clg23 rose 86 cents or 12 to settle at 7463 a barrel on the new york mercantile exchange