Ammon News - Oil prices nudged higher on Monday, adding to gains of more than 2% from Friday, as investors eyed further U.S. sanctions on Russia that may affect global supplies, but a ramp-up in Saudi output and ongoing tariff uncertainty limited gains.

Brent crude futures rose 15 cents to $70.51 a barrel by 0400 GMT, extending a 2.51% gain on Friday. U.S. West Texas Intermediate crude futures climbed to $68.59, up 14 cents, after settling 2.82% higher in the previous session.

U.S. President Donald Trump said on Sunday that he will send Patriot air defence missiles to Ukraine. He is due to make a "major statement" on Russia on Monday.

Last week, Brent rose 3%, while WTI had a weekly gain of around 2.2%, after the International Energy Agency said the global oil market may be tighter than it appears, with demand supported by peak summer refinery runs to meet travel and power generation. Reuters