Oil prices jumped $2 on Monday as Ukrainian forces dug in against heavy Russian attacks, while major oil producers reported they are struggling to produce their allotted quotas under a supply agreement.
Brent crude futures climbed $1.96, or 1.8 per cent, to $109.89 a barrel at 0039 GMT, adding to a 1.2 per cent rise last Friday.
US West Texas Intermediate (WTI) crude futures rose $2.09, or 2 per cent, to $106.79, extending a 1.7 per cent jump last Friday.
Prices moved higher after Ukraine’s deputy prime minister, Iryna Vershchuk said early on Monday there was no chance that the country’s forces would surrender in the besieged eastern port city of Mariupol.
