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Since the conflict in the Middle East started, Brent crude has gained $4, Hussein Sayed, chief market strategist at FXTM wrote in a note early Monday.
Bullishness on a trade deal between the US and China, and supply cuts resulting from US sanctions on Iran and Venezuela have sent prices higher.
West Texas Intermediate spiked Friday to its highest level since December 2014.
The price of Brent Crude Oil and West Texas Intermediate jumped above $60 on Monday on news that Opec expects higher demand in 2018.