Brent crude futures, the international benchmark for oil prices, soared to $57.89 per barrel in overnight trading between Sunday and Monday, the highest level since July 2015.

              U.S. West Texas Intermediate (WTI) crude futures also hit a July 2015 high of $54.51 a barrel. 

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Brent and WTI prices eased to $56.62 and $53.95 respectively by 0317 GMT, but were both still up more than 4 percent from their last settlement. 

With the deal finally signed after almost a year of arguing within the Organization of the Petroleum Exporting Countries and mistrust in the willingness of non-OPEC Russia to play ball, the market's focus will now switch to compliance of the agreement.