Mumbai, 25 Mar (Commoditiescontrol): Crude oil prices gained in early Asian trading on Monday on rising supply concern due to escalating conflict in the Middle East and between Russia and Ukraine, while a shrinking U.S. rig count added to upward price pressure.
Brent crude futures had climbed 24 cents, or 0.3%, to $85.67 a barrel. U.S. crude futures gained 25 cents, or 0.3%, to $80.88 per barrel. Both benchmarks logged less a than 1% change last week versus the previous week.
Russia struck critical infrastructure in Ukraine's western region of Kviv with missiles early on Sunday, in a major air strike that saw one Russian cruise missile briefly fly into Polish airspace.
Moscow launched 57 missiles and drones in the attack that also targeted the capital Kyiv, two days after the largest aerial bombardment of Ukraine's energy system in more than two years of full-scale war.
The move follows Ukraine's recent attacks on Russian oil infrastructure, with at least seven refineries targeted by drones just this month.
In the Middle East, Israeli forces besieged two more Gaza hospitals on Sunday, pinning down medical teams under heavy gunfire, the Palestinian Red Crescent said. Israel said it had captured 480 militants in continued clashes at Gaza's main Al Shifa hospital.
U.S. Secretary of State Antony Blinken told Israeli Prime Minister Benjamin Netanyahu on Friday that Israel risked global isolation if it attacks the Palestinian city of Rafah in the Gaza Strip.
Meanwhile, the U.S. oil rig count fell by one to 509 last week, showed data from energy services firm Baker Hughes , indicating lower future supply.
(By Commoditiescontrol Bureau: 09820130172)
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