💨 Abstract
Oil prices rose on Monday due to fresh U.S. sanctions on Iran's oil industry and Iraq's commitment to OPEC+ production cuts. Brent crude and U.S. West Texas Intermediate gained 0.5% and 0.4%, respectively, recovering from steep losses last week. The premium of front-month Brent futures over the next month's contract hit its highest since February 11.
Courtesy: theprint.in
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