Singapore: Oil prices rallied by more than 2 percent on Monday to levels not seen since November 2018 as a Reuters source familiar with the matter confirmed a report that Washington is set to announce all imports of Iranian oil must end or be subject to sanctions.
Brent crude futures rose to a November 2018 of $73.77 per barrel around 0220 GMT on Monday, up 2.5 percent from their last close.
U.S. West Texas Intermediate (WTI) crude futures rose to a Nov. 2018 high of $65.39 per barrel, up 2.2 percent from their last close.
