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Oil prices experienced a significant increase on Monday, with U.S. West Texas Intermediate crude futures rising by $1.88 to reach $80.33 a barrel, marking their highest settlement level since April. Similarly, global benchmark Brent crude also saw a rise of $1.63, reaching $84.25 a barrel, which is its highest level since April as well. These gains followed a positive trend from the previous week, as investors became more optimistic about the demand outlook for oil.
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