Oil climbs to three-month highs as Russia & Saudi Arabia lead major producers to extend output cuts

International benchmark

International benchmark Brent broke past $43 per barrel for the first time since early March on Monday after major crude exporters decided to keep record production curbs in place until the end of July.

US West Texas Intermediate (WTI) crude jumped to over $40 as trading started this week. While both Brent and WTI gave up some earlier gains, they were still up around one percent as of 6:43am GMT.

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