Oil prices jump over 2% as OPEC set to extend supply cuts - Reuters

Oil prices jump over 2% as OPEC set to extend supply cuts - Reuters:

Oil prices rose more than $1 a barrel on Monday, with OPEC and its allies on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week.

Front-month Brent crude futures, for September, touched an intraday high of $66.63 a barrel and were up $1.72, or 2.7%, at $66.46 a barrel by 0639 GMT.

U.S. crude futures for August climbed $1.52, or 2.6%, to $59.99 a barrel, after earlier hitting their highest in over five weeks at $60.13.