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Oil prices climbed up on the back of tensed US markets on Monday. The forthcoming sanctions against Iran are taking over the crude market. J.P. Morgan, the US bank has warned against the price hike above $90 per barrel in coming months. Brent has increased by 1.2% and was traded at $79.71 per barrel. U.S. West Texas Intermediate (WTI) rose by 1.1% and was traded at $71.53 a barrel.