Oil prices closed approximately 2 % higher at settlement

Oil prices closed, Monday, up about two percent at settlement, recording the highest level in two months, amid expectations of increased demand during the peak summer travel season in the Northern Hemisphere. Brent crude futures rose $1.60, or 1.9 %, to reach $86.60 per barrel at settlement. US West Texas Intermediate crude futures increased $1.84, or 2.3 %, to $83.38 at close. This is the highest close for Brent crude since last April 30, and for US West Texas Intermediate crude since the 26th of the same month.' Investors will focus on Federal Reserve Chairman Jerome Powell's remarks on Tuesday today, followed by the minutes of the Council's meeting regarding monetary policy the day after tomorrow, Wednesday, and the non-farm payrolls data in the United States scheduled to be issued next Friday Source: National Iraqi News Agency