WORLD OIL PRICES

Oil prices rebounded over 1% on Tuesday with technical rebound and dip buying after a drop in prior session by OPEC+ decision to accelerate increases in output, although concerns about the market surplus outlook persisted.

SOUTH AFRICA MARKETS

The South African rand strengthened on Monday to its highest levels in five weeks, after state utility Eskom said it was optimistic about the power outlook over the southern hemisphere winter, aiming for no electricity cuts in the next four months.