New York, May 11 (Petra) -- Major US stock indices closed higher on Monday, as crude oil prices surged by more than $2 per barrel.

West Texas Intermediate (WTI), the US oil benchmark, rose to $98.17 per barrel during the session.

In equity markets, the Dow Jones Industrial Average gained 95 points to reach 49,704. The tech-heavy Nasdaq Composite edged up 27 points to close at 26,274.

The S&P 500, a broad measure of market performance, also trended upward, rising approximately 14 points to settle at 7,412.

//Petra// AF