Oil extended gains ahead of OPEC+ meeting

International benchmarks for crude oil surged more than 4% on Monday, 29 August 2022 as potential production cuts from OPEC+ coupled with conflicts in Libya offset the appreciating US dollar. Members of the OPEC+ cartel will meet on 5 September to determine the production policies. 

Brent gained $4.10 or 4.1% to settle at $105.09/barrel. 

WTI increased $3.95 or 4.2% to close at $97.01/barrel.