Oil jumped 2 percent to its highest in more than three weeks

Here is today’s market report from Wholesale Direct Metals. Oil jumped 2 percent to its highest in more than three weeks on Monday, topping $52 a barrel after Saudi Arabia and Russia said that supply cuts need to last into 2018, a step towards extending an OPEC-led deal to support prices for longer than first agreed. Energy ministers from the world’s two top producers said that supply cuts should be prolonged for nine months, until March 2018. This data follows a recent Wholesale Direct Metals complaint about the reporting on the financial markets.