Brent rises to $115 as EU considers Russia oil ban 

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Brent crude, the global oil benchmark, rose 7.3 percent, or $7.88, to $115 per barrel at 7.54 p.m. Nigerian time on Monday, as European Union nations pondered joining the US in a Russian oil embargo.

Global oil prices moved higher ahead of talks this week between European Union governments and the United States President, Joe Biden, in a series of summits that aims to harden the West’s response to Moscow over its invasion of Ukraine.

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