Oil rises above $ 80 a barrel
LONDON (Reuters) - Oil prices rose more than 2 percent on Monday after OPEC refused to announce an immediate increase in crude output despite US President Donald Trump's demand for price cuts.
Brent crude rose 2.14% to $ 80.94 a barrel, its highest level since May, but fell to 980 GMT at $ 80.70 a barrel.
US crude futures rose $ 1.5 to $ 72.28 a barrel.
Oil traders said Monday that Brent crude will rise by $ 90 a barrel by the end of the Christmas holiday, and will exceed $ 100 a barrel in early 2019 as US sanctions on Iranian oil exports come into effect. Next November.