Brent crude closes at highest level since Nov 2014 after OPEC refuses to boost output

• Brent crude breaches $81 a barrel — its highest level since November 2014 — on the back of a tightening oil market and OPEC leaders signalling they won't be immediately boosting output.
• Oil producers led by OPEC refused this weekend to agree to a production hike, despite President Donald Trump calling on them to take action last week.
• The market is growing concerned about undersupply as U.S. sanctions on Iran threaten to reduce supply by about 1 million barrels a day.

Source: CNBC