Mubasher: Oil prices ended Monday’s trade in the positive territory increasing 2% with an expectation of cutting output by the OPEC on 6 December.

Goldman Sachs expected that the prices of basic commodities will go down, especially oil and gas, after the Group 20 Summit 2018 that will take place in Argentina during the period between 30 November and 1 December, as political leaders will focus on global trade tensions.

By 07:27 pm GMT, US Nymex futures jumped 2.20% at $51.53, the highest since October, while Brent crude futures rose 2.81% at $60.45.

The dollar index levelled up 0.11% at $97.05.