Crude prices hit a one-year high Monday after Russian President Vladimir Putin came out in support of international efforts to limit production, raising hopes for coordinated action to bring world oil supply and demand into balance. U.S. crude for November delivery settled up $1.54, or 3.1%, at $51.35 a barrel on the New York Mercantile Exchange—the highest closing price since July 2015. Brent, the global benchmark, rose $1.21, or 2.3%, to $53.14 a barrel on ICE Futures Europe. A file photo of a refinery in Anacortes, Wash. Skepticism is growing that OPEC members… Mr. Putin told an energy conference in Istanbul that Russia “stands ready to join common efforts to limit production” and believes that freezing or reducing production is “the only way to save the stability of the energy sector.” His remarks breathed new life into a rally that had started to sputter late last week. Following Mr. […]