Crude oil prices jumped to a fresh high of nearly $140 a barrel on Monday in spite of indications from Saudi Arabia that it would boost production to its highest for more than 25 years.

UK Daily View: Oil nears $140 despite Saudi move

Carola Hoyos on Saudi Arabia’s ‘high risk’ strategy to damp oil prices

The Saudi plans were overshadowed by renewed dollar weakness, prompting investors to buy commodities. Prices also rose after an overnight fire at a North Sea platform that cut the supply of high quality oil.