Oil prices jumped more than $6 on Monday, with Brent crude climbing above $114 a barrel, as European Union nations considered joining the US in a Russian oil embargo and after a weekend attack on Saudi oil facilities.
Brent crude futures were up $6.80, or 6.3 per cent, at $114.73 a barrel by 15:30GMT adding to a 1.2 per cent rise last Friday.
Prices moved higher ahead of talks this week between European Union governments and the US President Joe Biden in a series of summits that aim to harden the West’s response to Moscow over its invasion of Ukraine.
