Quotes of futures for Brent crude oil with delivery in July as of 05:43 MSC rose to $120.5, which is 0.9% above the closing level on Friday. As of 11:30 MSC prices corrected to $116.53. This is evidenced by the trading data of the ICE Futures exchange. The contract price exceeded the $120 mark for the first time since March 9.

Futures for U.S. crude oil WTI at the maximum at 05:43 MSC rose by 1.15% against the close on Friday, to $116.39 per barrel.

The growth was driven by traders’ expectations related to the European Union’s negotiations on a possible ban on imports of Russian oil as sanctions against Russia, Reuters reports. On Monday and Tuesday, European Union countries will discuss the sixth package of anti-Russian sanctions.