Brent oil closed on Monday at its highest level since July 2015 and U.S. crude closed at a peak not seen since February on expectations OPEC-led production cuts would be extended beyond March, although such gains are likely to spur more U.S. production. Brent crude futures LCOc1 settled at $60.90 a barrel, up 46 cents. Brent has gained 9.5 percent in the last 16 trading days. U.S. West Texas Intermediate (WTI) crude futures CLc1 settled up 25 cents at $54.15 a barrel, highest since Feb. 23, 2017. The U.S. contract has been strong of late as well, gaining 10 percent in the last 16 trading days. “The market has now held over $49/bbl for over a month, establishing that as the low end of […]