Oil futures were up strongly Monday, with Brent crude on track for its first finish above $80 a barrel since August, as investors assess the potential hit to supply from a further tightening of U.S. sanctions on Russia’s oil sector.

Oil prices continued their rise this morning following a harsh batch of sanctions by the US on Russian Oil and tankers. Click to read.

Oil prices rose about 2% on Wednesday on a large draw in U.S. crude stockpiles and potential supply disruptions from new U.S. sanctions on Russia, while a temporary halt to the war in Gaza limited the gains.