Crude oil futures ended sharply higher on Monday amid concerns about possible supply disruptions due to rising tensions in the Middle East, and the extreme cold weather in North America. According to private report, Russian energy firm Novatek has halted operations at its Baltic Sea export terminal due to a fire caused by a drone attack.
Benchmark crude oil futures for February delivery rose $1.78 or 2.4 percent to settle at $75.19 a barrel on the New York Mercantile Exchange. Brent crude for March delivery surged $1.50 or 1.90 percent to settle at $80.06 a barrel on London's Intercontinental Exchange.