WTI jumps to $102 as crude oil prices surge

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Crude oil prices remained on the upward slide on Monday and surged over two-and-a-half percent.

As of 1255 hours GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained $2.38 (+2.28 percent) to reach 106.77 a barrel.

The West Texas Intermediate (WTI), the main oil benchmark for North America, jumped to $102.08 a barrel, up by $2.81 (+2.83 percent).

The price for Opec basket was recorded at $104.90 a barrel with a decrease of 2.64 percent. The OPEC Reference Basket of Crudes (ORB) is made up of Saharan Blend, Girassol, Djeno, Zafiro, Rabi Light, Iran Heavy, Basra Light, Kuwait Export, Es Sider, Bonny Light, Arab Light, Murban and Merey.—TLTP

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