West Texas Intermediate was trading at $93.78 per barrel, up $1.93, or 2.10%, on Monday morning, while Brent crude rose $2.09, or 2.00%, to $106.80 per barrel, according to Oilprice.com data.
Crude oil prices will remain quite high in the coming months, with Brent staying above $100 per barrel, as the U.S. and Iran remain distant on a potential agreement, Cedric Chehab, chief economist at BMI, told CNBC on Monday.
Curious Minds Corner
What does seismic reflection data primarily help geoscientists identify?
Subsurface geological structures and stratigraphic boundaries that may contain hydrocarbon accumulations.