Crude oil prices inched slightly higher Monday amid hopes the U.S. economy would continue to gradually improve if Hillary Clinton is elected president tomorrow.

After being cleared again by the FBI in her email scandal, Clinton is expected to edge protectionist Donald Trump.

Despite a stronger dollar, December crude oil was up 50 cents at $44.59 a barrel.

OPEC's chief insists Russia, the world's biggest energy producer, is "on board" with the cartel's plan to limit crude oil production.

Markets remain skeptical, as a number of key producers say they should be exempt. Iran is arguing they should be free to pump oil after years of crippling sanctions.

Iran is set to sign an historic $6 billion deal with France's Total SA to help develop an offshore gas field, Marketwatch reports - rttnews says.

According to the second largest oil company in the world, the demand for black gold touched the lows in five years amid growing demand by consumers for electric cars and alternative energy sources. Shell began investing primarily in natural gas and biofuels. For example, this year Shell acquired BG Group for $ 54 billion in order to strengthen its position in the gas market.

(raw materials / closing price /% change)

Oil 44.13 +0.14%

Gold 1,305.20 +0.05%