Crude price settles up more than 7% as EU mulls Russian oil ban

Brent LCOc1 futures settled at US$115.62 per barrel, up $7.69 or 7.12%, while U.S. West Texas Intermediate (WTI) crude CLc1 futures settled at $112.12 per barrel, up $7.42 or 7.09%.

HOUSTON: Oil prices settled up more than 7% on Monday, with global benchmark Brent climbing above $115 a barrel, as European Union nations disagreed on whether to join the United States in a Russian oil embargo after an attack on Saudi oil facilities.

Brent LCOc1 futures settled at US$115.62 per barrel, up $7.69 or 7.12%, while U.S. West Texas Intermediate (WTI) crude CLc1 futures settled at $112.12 per barrel, up $7.42 or 7.09%.