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Brent extends gains to past $66 a barrel
AI Summary
- Oil prices rose above $66 a barrel as investors monitored the US-European summit on Russia-Ukraine conflict
- Russian oil supplies to Hungary and Slovakia halted after Ukrainian attack on Druzhba pipeline
- Brent crude futures for October delivery rose 1.1% to $66.60, while US Nymex crude futures for September delivery increased 1% to $63.42
Oil prices rose on Monday as investors monitored the US-European summit focused on ending the war between Russia and Ukraine.
Markets are closely watching the meeting between US President Donald Trump and Ukrainian President Volodymyr Zelensky on halting the war with Russia.
The world is also awaiting further meetings between Trump and European leaders to discuss ways to end the Russia-Ukraine conflict.
Meanwhile, Russian oil supplies through the Druzhba pipeline to Hungary and Slovakia were halted after part of the network came under a Ukrainian attack.
On the trading front, Brent crude futures for October delivery rose 1.1% or 75 cents to settle at $66.60 a barrel.
US Nymex crude futures for September delivery increased 1% or 62 cents to close at $63.42 a barrel.
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