Oil prices rose during Monday's trading, as markets assessed the impact of new European sanctions on Russian oil supplies, amid concerns that US tariffs would weaken fuel demand.
Brent crude futures for September delivery rose 0.15%, or 10 cents, to $69.38 a barrel.
US Nymex crude futures for August delivery also rose 0.25%, or 16 cents, to $67.50.
This comes after Baker Hughes data showed the number of oil rigs in the United States fell by two to 422 last week, the lowest level since September 2021.
The European Union approved the 18th package of sanctions against Russia last Friday. The most prominent step in the package, and one expected to have the greatest impact on markets, is a ban on imports of refined Russian oil products processed in third countries
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