U.S. markets moved higher off the lows of the morning on Monday but were still trading in the red as oil prices surged roughly 3 1/2-percent. Netflix (NFLX) is about to lose a collection of blockbuster films as its agreement with cable network Epix lapses. Epix has had a deal with Netflix since 2010 to share films 90 days after they launched on its own network. Netflix will lose movies such as ‘The Hunger Games: Catching Fire’ and the latest ‘Transformers’ film by the end of September. Stocks were sharply lower to begin the week. Losses were triggered by a pullback in crude oil prices following a massive rally to end last week. The commodity is on track for a monthly loss of more than 6-percent despite Monday’s comeback. Crude oil has been pressured by fears of slowing demand from China. Phillips 66 (PSX) moved higher after Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) disclosed a new $4.5 billion stake. TheStreet’s Keris Lahiff reports from New York.
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