Oil Prices Jump As European Countries Consider Banning Russian Crude

Oil prices rallied early on Monday amid EU consultations about potentially joining the U.S. in banning imports of Russian oil. As of 7:45 a.m. ET on Monday, WTI Crude was up 3.87% at $108.91 and Brent Crude was trading up 3.93% at $112.30.  Separately, prices were driven higher after an attack from the Iran-aligned Houthi rebels over the weekend targeted energy facilities in Saudi Arabia, the world’s top oil exporter and de facto leader of OPEC. According to the Saudi energy ministry, strikes carried out by drones hit a distribution…