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Brent crude oil rose above $55 a barrel on Monday, trading at a 16-month high, on rising prospects of a tightening market after OPEC agreed a landmark deal to cut production last week. Monday's gains take the rally since the agreement was struck on Wednesday to 19 percent for Brent, the biggest jump in almost eight years, and 16 percent for U.S. crude. West Texas Intermediate (WTI) crude traded up 48 cents, also 1 percent, at $52.16 a barrel.
OAKLAND, Calif. (AP) — The death toll in the Oakland warehouse fire has grown to 36 and authorities say they expect the number to rise when they resume work later Monday following a temporary work stoppage. A wall is leaning inward, posing a safety hazard to those who have been searching the building which erupted in fire Friday night.
Forces loyal to Libya's UN-backed government said Monday they had seized full control of Sirte from the Islamic State group, in a major blow to the jihadists who battled for months to retain their bastion. The battle for the coastal city, which was the last significant territory held by IS in Libya, cost the lives of hundreds of loyalist troops as well as an unknown number of IS fighters. "Our forces have total control of Sirte," Reda Issa, a spokesman for pro-government forces, told AFP.