Oil prices climb $2, hits 4-month high
NEW YORK: Oil prices climbed about 2 per cent to a four-month high on Monday on expectations that wider US sanctions on Russian oil would force buyers in India and China to seek other suppliers.
Brent futures rose $1.40, or 1.8pc, to $81.16 a barrel by 11:18 a.m. EST (1618 GMT), while US West Texas Intermediate (WTI) crude rose $2.15, or 2.8pc, to $78.72.
That put Brent on track for its highest close since Aug. 26 and WTI on track for its highest close since Aug 12, and kept both...
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