Oil settles above $56 on China stimulus move

Crude-oil futures settled higher on Monday, finding support after China made a move to shore up its economy.

Prices finished below the session’s best levels, however, as the Tuesday expiration of May contracts on the New York Mercantile Exchange fed volatility.

May crude CLK5, -0.11%  tacked on 64 cents, or 1.2%, to settle at $56.38 a barrel on Nymex after posting a decline of 1.7% on Friday. The May contracts go off the board at Tuesday’s close.

June Brent crude LCOM5, -0.09%  on London’s ICE Futures exchange settled flat at $63.45 a barrel.

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