Oil prices rose more than 1% on Monday, extending last week’s gains as traders eyed a recovery in demand due to successful coronavirus vaccine trials. Sentiment was also bolstered by expectations that the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers, a group known as OPEC+, might extend a deal to restrain output. Brent crude rose 94 cents to $45.90 a barrel by 0913 GMT while U.S. West Texas Intermediate crude gained 76 cents to $43.18 a barrel. Both benchmarks jumped 5% last week. The contango structure in the market, where the prices of front-month delivery contracts are lower than those for delivery six months later, narrowed to 32 U.S. cents, its smallest since mid June, indicating […]