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Oil prices jumped on Monday over looming extended supply cut decision gained support from Saudi Arabia, Russia and Iraq. Brent crude futures were traded 1.7% higher, at $65.86 a barrel. US WTI jumped by 1.9% to $59.57 a barrel. OPEC and its allies will meet on Monday to discuss the extension of oil supply cuts. Top producers from the cartel were seen endorsing supply cut extension yesterday.
