Oil rises as fears of Russian oil sanctions spur supply concerns

Models of oil barrels and a pump jack are displayed in front of a rising stock graph and "$100" in this illustration. - Reuters

SINGAPORE, March 8 (Reuters): Oil prices rose on Tuesday, with Brent surging past $126 a barrel, as fears of formal sanctions against Russian oil and fuel exports spurred concerns about supply availability.

Benchmark Brent crude futures for May climbed $3.07, or 2.49%, to $126.28 a barrel at 0756 GMT.