The price of oil has reached a new high for 2009, continuing its recent rise on the back of the weak US dollar and strong US company results.
US crude rose 52 cents to $79.05 a barrel in early trading, before slipping back to $78.78, up 25 cents on Friday's close.
London Brent also traded higher, up 22 cents at $77.11 a barrel.
Oil prices surged last week, as encouraging US bank results fuelled optimism for the global economy.
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