Wall Street Closes At Record Highs As Crude Prices Soar

Two of the three indexes on Wall Street closed at record-highs with a rally by crude oil prices.



The Dow increased 100 points to finish trading at 21,613.



The S&P rose seven points to end the day at 2,477 and the Nasdaq added one point to 6,412. Both indexes closed the day at all-time highs.



American benchmark West Texas Intermediate traded 3.4 percent higher at $47.91 at the closing bell. International benchmark Brent crude was at $50.20 -- a 3.3 percent gain.



OPEC and non-OPEC nations met Monday in Russia to discuss further production cuts to rid the glut of supply in the global market.



Saudi Arabia's Energy Minister Khalid Al-Falih said after the meeting the kingdom would cut exports to 6.6 million barrels per day (mbpd) in August -- 1 mbpd less than the same month last year.



Russian Energy Minister Alexander Novak said his country suggests extending the oil cut agreement between OPEC and non-OPEC nations beyond the March 2018 deadline. -