SINGAPORE: Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signalling tight supply even after OPEC+ agreed to accelerate output increases over the next two months.
Brent crude was up 91 cents, or 0.8%, at $120.63 a barrel at 0343 GMT after touching an intraday high of $121.95, extending a 1.8% gain from Friday.
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