TOKYO (Reuters) -Oil prices climbed on Monday, extending pre-weekend gains to hit multi-year highs as global supply remained tight amid solid fuel demand in the United States and elsewhere in the world as economies pick up from coronavirus pandemic-induced slumps. U.S. West Texas Intermediate (WTI) crude futures rose 87 cents, or 1.0%, to $84.63 a barrel at 0342 GMT, after gaining 1.5% on Friday. Brent crude futures increased 71 cents, or 0.8%, to $86.24 a barrel, following on from last Friday's 1.1% gain.
Despite strong product demand, oil refiners are beginning to see their margins impacted by record-high natural gas prices in Europe and Asia
German business sentiment figures put the EUR in focus, with BoE member chatter leaving the Pound in the hands of any forward guidance.