Brent crude, the global benchmark for oil trade, opened above $60 per barrel on Monday, close to its highest level since July 2015.
Brent crude jumped $0.14 to $60.58 per barrel as of 14:20 (MSK).
U.S. West Texas Intermediate (WTI) crude futures were up 8 cents, or 0.15 percent, at $53.98 a barrel in electronic trading on the New York Mercantile Exchange.
According to Bloomberg, oil extended a two-year high amid growing signs that OPEC and Russia will press on with supply curbs, and as pipeline flows from Iraq were disrupted.
