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Oil prices climb

Oil prices climbed on Monday, poised to extend last week's gains, with traders still showing concern over Iran sanctions, but wary of OPEC's ability to offset crude supply declines and growing U.S. production.
 
On the New York Mercantile Exchange, June West Texas Intermediate crude tacked on 31 cents, or 0.4 per cent, to $71.01 a barrel. 
 
July Brent crude oil the global benchmark, was up 45 cents, or 0.6 per cent, to $77.57 a barrel.


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