Oil flares up to $55.62/bbl

Ahead of the OPEC meeting in Vienna, oil prices flared up nearly 4% on Monday. While the Nymex U.S. light crude oil for July delivery advanced $2 to $55.62 a barrel, the London Brent crude moved up $2 to $54.77 per barrel.

The commodity segment saw the Comex gold jump $1.80 to settle at $431.10 an ounce.