Crude jumps on global energy crunch; US oil at 7-year high

Oil prices rose 2 per cent on Monday, extending multiweek gains as an energy crisis gripping major economies shows no sign of easing amid a pick up in economic activity and restrained supplies from major producers.

Brent crude was up $1.62 cents, or 2 per cent, at $84.01 a barrel by 0914 GMT, The highest level since October 2018.

 

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