Brent crude hits four-year high, near $81

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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 lower prices.

At 0840 GMT (9:40am Nigerian time), Brent North Sea crude for delivery in November soared as high as $80.94 per barrel.

The contract later stood at $80.69, up $1.89 from Friday’s close.