London (CNN Business) 1. Oil prices up: Oil prices spiked to their highest level in five months on Monday.

US crude futures advanced 0.4% to trade at $63.30 per barrel. Brent crude, the international benchmark, also rose 0.4% to $70.60 per barrel.

Crude prices have been boosted by continuing production cuts by OPEC and its allies, US sanctions on Iran and Venezuela, as well as easing worries about weaker global trade.

A worsening security situation in Libya has also sparked concerns that supply from the major oil producer could be disrupted.

"The volatile nature of the situation means that the risk of fighting spreading towards the oil fields is increasing by the day," said Jasper Lawler, head of research at the London Capital Group, a broker.