Brent Crude Tops $80, Heads for Highest Close Since 2014

Global oil prices surged to their highest close in nearly four years on Monday after OPEC left production steady over the weekend, fueling fresh bets that U.S. sanctions against Iran and outages in Venezuela will lead to supply shortages.

The decision by members of the Organization of the Petroleum Exporting Countries and major producers like Russia to hold supply constant comes amid a rebound in investor confidence in the global economy. Analysts said that combination, with many anticipating compromises on global trade policy…

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