Oil price higher on Russian supply disruption

Brent crude LCOc1 settled up $3.06, or 3.1%, at US$100.99 a barrel after touching a high of $105.07 in early trade.The Brent contract for April delivery expires on Monday. The most active contract, for May delivery, was up $3.14 at $97.26.

NEW YORK: Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports.

Brent crude LCOc1 settled up $3.06, or 3.1%, at US$100.99 a barrel after touching a high of $105.07 in early trade.