Wall Street set for higher open as oil prices extend gains

Wall Street was on track to open sharply higher on Monday as prices of crude oil and other commodities surged, pointing to an uptick in investors' risk appetite following a rout in global markets. Crude prices were up more than 5 percent after data showed a fall in U.S. rig counts and the International Energy Agency said it expects U.S. shale oil output to fall. Prices of industrial metals such as Copper and Zinc were also up as investors worried about potential shortages.