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.

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.

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.