Oil prices gained in Asian trade on Monday supported by geopolitical tension in Europe and the Middle East, although the prospect of more oil supply and concern about the impact of trade tariffs on global fuel demand weighed.
Brent crude futures rose 34 cents, or 0.54%, to $67.07 a barrel by 0317 GMT while the U.S. West Texas Intermediate crude contract for October was at $63.02 a barrel, up 34 cents, or 0.54%.
The October WTI contract expires on Monday and the more active November contract gained 36 cents, or 0.58%, at $62.76 a barrel.
"Reports over the weekend that Russia was threatening over the Polish border has provided traders with a timely reminder of the ongoing risks to European energy security from the north east," said Michael McCarthy, CEO of investment platform Moomoo Australia and New Zealand.
Polish and allied aircraft were deployed early on Saturday to ensure the safety of Polish airspace after Russia launched airstrikes targeting western Ukraine near the border with Poland, armed forces of the NATO-member country said.
Source : Investing.com