Oil prices rose at the settlement by about 2% on Monday, to approach their highest level in three months, in conjunction with tight supplies and increased demand for fuel in the United States and hopes for Chinese stimulus measures.
Brent crude futures rose $1.76, or 2.1%, to settle at $82.74 a barrel, the highest recorded close for crude since April 19.
US West Texas Intermediate crude also jumped $1.75, or 2.1%, to settle at $78.74 a barrel, the highest close since April 24.
The two benchmarks rose for four consecutive weeks, in light of expectations of a decrease in supplies as a result of the production cuts adopted by the OPEC + alliance.
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