Oil prices rose up to 2 percent on Monday, hitting five-month highs on expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and U.S. sanctions against Iran and Venezuela.
International benchmark Brent futures rose 76 cents, or 1.1 percent, to settle at .10 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained
.32, or 2.1 percent, to settle at .40 a barrel.
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