Oil climbs on concerns Russia political issues may impact supply

Oil prices experienced an increase on Monday due to a recent revolt led by Russian mercenaries.

The uprising raised concerns regarding political instability in Russia and the potential impact on oil supply, considering Russia’s significant role as one of the world’s largest producers.

Both Brent and U.S. West Texas Intermediate (WTI) crude futures saw a 0.4% rise on Monday, although their earlier gains of up to 1.3% in early Asian trade were slightly reduced, Reuters reports.

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