Brent is at its highest level since 2018, exceeding $86

Oil prices rose during trading on Monday, exceeding their highest levels since 2018, with the recovery in global demand for crude, and despite the rise of the dollar against most major currencies.

With the approach of winter, the demand for heating fuel began to increase in Europe and the United States, which led to a rise in prices along with a decrease in supply.

This was evident in the wake of the Energy Information Administration's announcement of an unexpected drop in US crude stocks last week.

In a separate context, the dollar index (against a basket of major currencies) rose at exactly 15:53 ​​GMT by 0.2% to 93.7 points, and recorded the highest level at 93.9 points and the lowest level at 93.4 points.

In terms of trading, US “NYMEX” crude futures for December delivery rose by 0.7% to $84.4 a barrel by 15:49 GMT, the highest level since October 2014.

Brent crude futures for December delivery rose 0.9% to $86.3 a barrel, its highest level since October 2018.