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Reuters

Oil climbs on pressure from Ukraine conflict, tight market

Oil prices jumped $2 on Monday as Ukrainian forces dug in against heavy Russian attacks, while major oil producers reported they are struggling to produce their allotted quotas under a supply agreement. Brent crude futures climbed $1.96, or 1.8%, to $109.89 a barrel at 0039 GMT, adding to a 1.2% rise last Friday. U.S. West Texas Intermediate (WTI) crude futures rose $2.09, or 2%, to $106.79, extending a 1.7% jump last Friday.

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