Brent oil jumps to four-year high near $81

Brent oil soared Monday close to $81, reaching the highest level since November 2014 after Opec and other global producers snubbed pressure from US President Donald Trump to dampen prices.

At 0840 GMT, Brent North Sea crude for delivery in November soared to a peak of $80.94 per barrel. That was the highest level since November 12, 2014.

The benchmark Brent contract later stood at $80.85, up $2.05 from Friday's close.

New York's main contract, West Texas Intermediate (WTI) or light sweet crude for delivery in November, added $1.52 to $72.30 after earlier striking a two-month pinnacle.

Oil leapt after the world's top producers decided to maintain output during a meeting in Algeria at the weekend.