By Peter Nurse

Investing.com – Oil prices rose sharply on Monday after a group of top producers kept production targets on hold amid an EU ban on Russian crude oil imports and a related G7 price cap.

As of 09:05 ET (14:05 GMT), futures were trading up 2.8% to $82.22 a barrel, while the contract was up 2.7% to $87.86.

The organization of petroleum exporting countries and allies, known as OPEC+, decided on Sunday to continue its policy…

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