WASHINGTON (dpa-AFX) - Oil prices rose on Monday amid supply concerns as Ukraine stepped up attacks on Russia, fanning concerns Russian oil supply could be disrupted.
Broader market sentiment also remained supported after the U.S. Federal Reserve indicated a possible return to interest-rate cuts.
Fed Chair Jerome Powell's Jackson Hole speech was largely dovish and provided a boost to most risk assets.
Benchmark Brent crude futures rose 0.4 percent to $67.46 a barrel in European trade after rising almost 3 percent last week. WTI crude futures were up half a percent at $63.97.
Russia accused Ukraine of launching dozens of drone attacks that sparked a fire at a nuclear power plant in its western Kursk region, as Ukraine celebrated 34 years since its independence.
Russian officials said several power and energy facilities were targeted in the overnight strikes.
As Russia-Ukraine peace talks stall, U.S. President Donald Trump said that he will make a 'very important decision' in the next two weeks regarding the ongoing Russia-Ukraine war if both sides do not agree to a peace deal.
The U.S. has already threatened to double tariffs on all imports from India to 50 percent in retaliation for New Delhi's continued purchases of Russian crude.
The penalty is set to take effect from Wednesday and Indian diplomats have said local processors would continue taking crude from Moscow.
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