Oil Jumps on Expected Hit to China and India's Russian Supplies

OIL PRICE - LONDON. Oil extended gains for a third session on Monday, with Brent crude rising above $80 a barrel to its highest in more than four months, driven by wider U.S. sanctions on Russian oil and the expected effects on exports to top buyers India and China.

Brent crude futures were up 71 cents, or 0.9%, to $80.47 a barrel by 1424 GMT after hitting the highest level since Aug. 27 at $81.68.