Oil Prices On Track For Best January In 30 Years

Oil prices rose early on Monday, poised for a 17-percent jump this month—the strongest January performance in at least 30 years—as global supply struggles to keep up with rebounding demand. As of 7:47 a.m. EST on the last trading day of January, WTI Crude was up 0.67% at $87.40, and Brent Crude traded at $91.

14, up 1.16%. The Brent March contract expires on January 31, and April is the more active contract now. The six-month spread in Brent was in its strongest backwardation since 2013 as of trade close on Friday, signaling a tightening…