Oil prices rose nearly 1 percent in early Asian trade on Monday, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption.
Brent crude futures climbed 69 cents, or 0.9 percent, to $77.24 a barrel by 0037 GMT, while U.S. West Texas Intermediate crude was at $72.08 a barrel, up 65 cents, or 0.9 percent .
Russia said on Sunday it would deepen oil export cuts in December by potentially 50,000 barrels per day or more, earlier than promised, as the world’s biggest exporters try to support global oil prices.