Crude futures continued to climb up Monday as the supply worries outweigh Saudi Arabia's promise to boost output.
Light, sweet crude for August delivery topped 138.14 U.S. dollars a barrel before retreating to settle at 136.74 dollars a barrel, trading up 1.38 dollars, on the New York Mercantile Exchange.
A global energy summit meeting led by Saudi Arabia ended Sunday with the Saudis promising to boost its daily oil production from 9million barrels to 9.7 million barrels. Saudi officials also said the government will invest in oil projects to allow a daily production of 12.5 million barrels by the end of next year.
