Brent Crude Tops $87 as Geopolitics Threatens Tight Supply

Brent crude oil surged past $87 on Monday as Russia’s war on Ukraine increasingly focuses on attacks on energy installations, and as mediation in the Israel-Gaza conflict fails.  On Monday at 10:14 a.m. ET, Brent crude was trading at $87.16, up 2.03%, for a 1.72-cent gain on the day. The U.S. crude oil benchmark, West Texas Intermediate (WTI), was trading at $82.45, up 2.26%, for a $1.82 gain on the day.  The latest rally also comes after OPEC+ said on Monday that it saw no need for any policy changes during next week’s planned…