Brent crude soared near $130 a barrel on Monday, its highest since 2008, as the United States and European allies mull a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled tight supply fears.
Brent crude futures jumped $10.88, or 9.2 percent, to $128.99 a barrel by 0723 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $9.80, or 8.5 percent, to $125.48.
