Oil prices are at the highest level since October

Oil prices rose to their highest levels since October on Monday, as investors awaited the impact of cold weather in the Northern Hemisphere and economic stimulus measures taken by Beijing on global demand for fuel.

By 01:25 GMT, Brent crude futures increased 15 cents, or 0.2%, to $76.66 per barrel, and Brent crude futures settled on Friday at their highest levels since October 14. West Texas Intermediate crude futures rose 22 cents, or 0.3%, to $74.18 a barrel after closing on Friday at their highest levels since October 11.

Beijing is working to boost fiscal stimulus to revive the faltering economy, announcing on Friday that it will sharply increase financing from long-term Treasury bonds in 2025 to stimulate business investment and consumer boosting initiatives.