Oil prices settled higher Monday as comments from Saudi Arabia’s energy minister raised the potential for an extension of the production-cut agreement beyond its expiration at the end of this year. February West Texas Intermediate crude , which expired at the settlement, rose 25 cents, or 0.4%, to settle at $63.62 a barrel on the New York Mercantile Exchange. March WTI crude , which is now the front-month futures contract, settled at $63.57 a barrel, up 26 cents, or 0.4%.
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