Oil surged on Monday

International benchmarks for oil prices moved higher on Monday (26 September) as market continue to hope for positive result from the long awaited meeting between OPEC members this Wednesday. This came after the United Arab Emirates posted their support for a deal, saying the country would limit production output. However, ananysts warn that Iran has not responded to Saudi Arabia's offer to mutually freeze production, possibly indicating that it may be difficult for them to agree a deal.

WTI closed at $45.93/barrel (+$1.45) for November delivery

Brent closed at $47.35/barrel (+$1.46) for November delivery