Receive Breaking News updates as they occur
By Michael Holden LONDON (Reuters) - Prime Minister Theresa May's government launches a challenge on Monday against a court ruling that it requires parliamentary approval to start the process of leaving the European Union, a decision that could upset Britain's Brexit plans. If the Supreme Court, the United Kingdom's highest judicial body, dismisses the government appeal it could derail May's timetable for triggering Article 50 of the Lisbon Treaty and leaving the EU. The government's legal fight comes against a backdrop of claims by some politicians and newspapers that establishment judges want to thwart the Brexit process.
Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, as optimism spread about the prospect of a tightening market after OPEC members agreed on a landmark deal to cut production last week. Brent crude oil futures , the global benchmark used to trade oil, soared to its highest since July 6, 2015 to $55.20 a barrel. WTI crude oil traded up 54 cents, or 1 percent, at $52.22 a barrel.