Oil prices rose on Monday, following statements from an American advisor on Indian purchases of Russian crude.
Initially in the red, the price of a barrel of North Sea Brent, for delivery in October, was up 0.55% to $66.21 around 10:25.
Its American equivalent, the West Texas Intermediate barrel, for delivery in September, was up 0.70% at $63.24.
The White House trade adviser called for an end to India’s purchases of Russian crude in a statement on Monday, which revived concerns about supply flows.
The statement sparked renewed buying interest in the market, according to analysts who said “energy flows remain hostage to trade and diplomatic tensions.”