At its peak it had 90% market-share. It was never "illegal" or "impossible" to sell petroleum in competition to it -- just highly very difficult to compete with them.
In the same vein, google has 9-1 share of the internet search market....should we call it a "monopoly"?
Once a company hits 75% or so they have no "economic need" to write restrictive exclusive contracts as they basically control the market. Remember, the RULES OF FREE MARKETS assume there are ALWAYS enough buyers and sellers that NEITHER side has a group large enough to independently affect the market prices. As soon as a buyer or seller hits about 25% they aren't following the rules of the "Free Market system" they are Capitalists attempting to REMOVE the RIGHTS of the Free Market system from others using aggregation of capital resources.
Standard Oil, at its peak, had an actual near-monopoly on most discovered sources of oil. You can't even get into the oil business unless you discover more oil -- in theory, they could have used their resources to stay on top of each oil source as it was discovered. No amount of old-fashioned ingenuity can compete with that.