LONDON—Oil rose on Monday as a supply shortage and political tensions in Eastern Europe and the Middle East put prices on track for their biggest monthly gain in almost a year.
Brent crude had risen 66 cents, or 0.7 percent, to $90.69 a barrel by 1005 GMT. The front-month contract for March delivery expires later in the day. The most-active Brent contract, for April delivery, was trading at $88.98, up 46 cents, or 0.5 percent.
