Oil prices build on last week’s strength as supply risks rise

News Snapshot:

Oil prices ticked up in Asian trade on Monday, extending gains from last week of nearly 4 per cent on the view that supply was tightening, with the risks heightened by further attacks on Russian energy infrastructure. Brent crude oil futures for May delivery climbed 47 cents, or 0.5 per cent, to $85.81 a barrel by 0720 GMT. The April contract for U.S. West Texas Intermediate (WTI) crude was up 49 cents, or 0.6 per cent, at $81.53. The more active May delivery contract for WTI traded 50 cents, or 0.6 per cent, higher at $81.08 per barrel. “The strikes...