Global oil prices rise once more as the EU contemplates imposing an embargo on Russian oil

Global oil prices have risen by more than $3 a barrel, with Brent crude trading above $111, as European Union countries ponder joining the US in a Russian oil embargo and following a weekend attack on Saudi oil facilities.

Brent oil futures were up $3.40, or 3.2 per cent, to $111.33 a barrel by 09:58 GMT on Monday, adding to a 1.2 per cent gain last Friday.

WTI oil futures in the United States climbed $3.65, or 3.5 per cent....