New York, January 12 (QNA) - Oil prices settled near their highest levels on Monday.

Brent crude futures rose by 43 cents, or 0.6 percent, to reach USD 63.77 per barrel.

US West Texas Intermediate (WTI) crude climbed by 38 cents, or 0.64 percent, to settle at USD 59.50 per barrel.

Both benchmarks recorded gains of more than 3 percent over the past week, marking their largest weekly increase since October. (QNA)