Crude oil rebounded from the day’s lows after a report showed that confidence among U.S. consumers jumped this month to the highest level since September. Oil followed the stock market higher after the Conference Board’s sentiment index surged to 54.9, higher than forecast and the biggest gain since April 2003, the New York-based research group said today. Oil futures declined earlier on speculation OPEC will maintain production quotas at a meeting this week. Crude oil for July delivery rose 3 cents to $61.70 a barrel at 11:46 a.m. on the New York Mercantile Exchange. Futures earlier dropped to $59.53, the lowest since May 19. Prices are up 38 percent this year. The exchange will combine yesterday and today’s transactions for settlement purposes because U.S. floor trading was shut for the Memorial Day holiday. Brent crude for July settlement rose 54 cents, or 0.9 percent, to $60.75 a barrel on London’s ICE Futures Europe exchange.

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