Oil price jumps 5% on Trump health update, Norway shutdowns

Brent rose US$2.02, or 5.1%, to settle at $41.29 a barrel. U.S. West Texas Intermediate (WTI) crude rose $2.17, or 5.9%, to settle at $39.22 a barrel

NEW YORK: Oil prices climbed more than 5% on Monday after U.S. President Donald Trump said he will leave the hospital where he is being treated for COVID-19, while six Norwegian offshore oil and gas fields were shut as more workers joined a strike.

Brent rose US$2.02, or 5.1%, to settle at $41.29 a barrel. U.S. West Texas Intermediate (WTI) crude rose $2.17, or 5.9%, to settle at $39.22 a barrel.