Oil prices climb on Monday

Brent crude rose 47 cents, or 0.71 per cent, to $66.41 a barrel, while US West Texas Intermediate (WTI) gained 44 cents, or 0.72 per cent, to $61.94 by 0629 GMT.

The gains followed last week’s sharp increases driven by new US and EU sanctions on Russia. Analysts said the easing of US-China tensions helped counter earlier concerns about oversupply, though doubts remain about the long-term impact of sanctions on Russian energy exports.

Attribution: Reuters