Reports are circulating that the US is properly set to impose its most severe sanctions on the Russian oil industry, prompting traders to prepare for potential supply disruptions. International crude oil prices rose on January 10, reaching a three-month high.

West Texas Intermediate (WTI) crude for February delivery increased by US$2.65 (3.6%), reaching US$76.57/barrel on the New York Mercantile Exchange.

Brent crude for March delivery rose by US$2.84 (3.7%), settling at US$79.76/barrel.