Futures Movers: Oil futures ease after nearly 10% surge over last two weeks

Oil futures slipped Monday, easing after a strong run of gains.

• The front-month West Texas intermediate contract
  CL00,
  -0.41%
  fell 50 cents, or 0.6%, to $87.01 per barrel.

• Brent crude
  BRN00,
  -0.15%
  fell 28 cents, or 0.2%, to $90.44.

• Gasoline for October delivery
  RB00,
  +0.47%
  was steady at $2.65 per gallon.

The lead oil contract rose over 2% last week, and has jumped close to 10% over the last two weeks, as Saudi Arabia announced it would extend a production cut of 1 million barrels a day through the end of the year, while Russia said it would also extend supply cuts.