OIL PRICE - NEW YORK. Oil prices settled more than 3% higher on Monday, with Brent surpassing $80 per barrel for the first time since August as the increased risk of a region-wide Middle East war jolted investors out of record bearish positions amassed last month.
Brent crude futures rose by $2.88, or 3.7%, to settle at $80.93 per barrel. U.S. West Texas Intermediate futures advanced by $2.76, or 3.7%, to $77.14 per barrel.
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