 "An offshore oil platform at the Bouri Oil Field off the coast of Libya")
Oil prices rose nearly $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 $1.54, or 1.87 per cent, at $83.93 a barrel by 9.36 pm IST, its highest since October 2018. US West Texas Intermediate crude rose $1.80, or 2.27 per cent, to $81.15.
“Oil prices are likely to continue climbing in the short term,” said Commerzbank analyst Carsten Fritsch.
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