SINGAPORE, Aug 1 (Reuters) - Oil prices climbed on Monday, with Brent crude up more than $1 near $118, as lawmakers in the United Sates moved closer to raising the nation's borrowing limit and averting default by the world's top oil consumer.
Signalling a bipartisan $3 trillion agreement could be imminent, an aide said Senate Majority Leader Harry Reid would support the emerging deal as long as his fellow Democrats back it.
Brent crude