Oil futures were up strongly Monday, with Brent crude on track for its first finish above $80 a barrel since August, as investors assess the potential hit to supply from a further tightening of sanctions on Russia’s oil sector.

Oil surpassed $80 a barrel as traders digested a report that Indian oil processors are bracing for new US sanctions that would hit flows from Russia.

Crude oil prices surge as U.S. sanctions on Russian oil disrupt global supplies, driving Brent crude above $81/bbl to the highest in nearly five months.