Oil prices rose more than $2 on Monday, extending gains as an energy crisis grips major economies amid a pick-up in economic activity and restrained supplies from major producers.
Brent crude was up $2.17, or 2.6%, at $84.56 a barrel by 1136 GMT, its highest since October 2018.
U.S. West Texas Intermediate (WTI) crude rose $2.67, or 3.4%, to $82.02 for its highest since late 2014.
“Oil prices are likely to continue climbing in the short term,” said Commerzbank (DE:CBKG) analyst Carsten Fritsch.
