International oil prices reacted positively to Saudi Arabia's decision to raise the prices of its crude sold to Asia and the United States of America.
And Saudi Arabia decided yesterday, Sunday, to raise the official selling price of Arab Light crude to Asia and the United States in January by 80 cents compared to the previous month.
The increase came despite the (OPEC +) decision last week to continue increasing supplies by 400,000 barrels per day next January.
Oil prices also received a boost due to the decline in prospects for an increase in Iranian oil exports after the indirect talks between Washington and Tehran aimed at reviving the 2015 nuclear agreement stopped.
On Monday, Brent crude futures recorded a rise of about 2.3%, or the equivalent of $1.63, to reach $71.51 a barrel.
The US West Texas Intermediate crude futures rose today also by 2.54%, the equivalent of $1.67, to reach $67.91 a barrel.
