Oil prices rebounded on Monday, as Brent crude futures surged to a new high of USD 86.03 a barrel. This represents a 3 percent increase from the previous day's close.
The U.S. West Texas Intermediate (WTI) crude futures also saw a significant gain, rising by USD 2.43 or 3.1 percent to USD 80.61 a barrel.
It is worth noting that both benchmarks fell more than 7 percent last week.
More on Commodities
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