Oil prices rose by more than 2% on Monday following OPEC+'s decision to delay its plans to increase production for a month, as the market prepared for a crucial week that includes the US presidential election.

Democratic American candidate Kamala Harris and Republican Donald Trump remain virtually even in opinion polls ahead of Tuesday's election day, and the winner may not be known until several days after the vote is over.

Brent futures rose $1.73 per barrel, or 2.4%, to $74.83 per barrel at 13:24 GMT. American West Texas Intermediate (WTI) crude gained $1.79 per barrel, or 2.6%, to

On Sunday, OPEC+, which includes the Organization of Petroleum Exporting Countries, Russia and other allies, said it would extend its production cut of 2.2 million barrels per day (bpd) for an additional month in December, an increase that was already delayed since October due to falling prices and the low request. OPEC+ was supposed to increase production by 180,000 bbl/d starting in December