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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Oil Prices Climb over $2/bbl Ahead of OPEC+ Meeting

Pump Jacks are seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Nicholson

Oil prices rose more than $2 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to cut output and support prices at a meeting later in the day.

Brent crude futures had risen $2.42, or 2.6%, to $95.44 a barrel by 0641 GMT after gaining 0.7% on Friday. US West Texas Intermediate crude was at $88.92 a barrel, up $2.05, or 2.4%, following a 0.3% advance in the previous session.

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