Crude prices rebounded Monday on the tightness of U.S. gasoline supplies.

U.S. gasoline stocks plunged by 5.7 million barrels in the week ended Aug. 17 to the lowest level since mid-May, according to last week's Energy Information Administration report.

An analysts surveyed by Dow Jones Newswires expect this week's EIA report, due out Wednesday, to show gasoline inventories shrinking by another 1.8 million barrels.

Light, sweet crude for October delivery rose 88 cents a barrel to settle at 71.97 the New York Mercantile Exchange.