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Brent hits 1-month high, US crude tops $31 on output cuts, easing curbs

US West Texas Intermediate (WTI) crude was up $2.46 or 8.4% at $31.89 per barrel, its highest since mid-March

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The June WTI contract expires on Tuesday, but there was little indication of it repeating a historic plunge below zero last month on the eve of the May contract's expiry

Bozorgmehr Sharafedin | Reuters London

Oil prices climbed by $2 a barrel on Monday, with benchmark Brent hitting a one-month high and US crude topping $30 supported by optimism about the re-opening of economies and output cuts by major producers.

Brent crude was up $1.99, or 6.1%, at $34.49 a barrel by 1041 GMT, its highest level since mid-April.

US West Texas Intermediate (WTI) crude was up $2.46 or 8.4% at $31.89 per barrel, its highest since mid-March.

"Optimism on the demand side of the oil equation has helped prices climb further, with gasoline demand coming back as governments ease confinement measures," said Rystad Energy's senior oil markets