Oil prices climb to over 2-month highs ahead of EU meeting on Russia sanctions | Reuters

Oil prices climb to over 2-month highs ahead of EU meeting on Russia sanctions | Reuters

Oil prices rose on Monday, hitting their highest in more than two months, as traders waited to see whether a planned European Union meeting would reach an agreement on banning Russian oil imports.

The Brent crude futures contract for July, which will expire on Tuesday, was up 54 cents, or 0.5%, at $119.97 a barrel at 0912 GMT. The August Brent contract , which is more active, rose 69 cents, or 0.6%, to $116.25 a barrel.

U.S. West Texas Intermediate (WTI) crude futures jumped 62 cents, or 0.5%, to $115.69 a barrel, extending solid gains made last week.

The EU is due to meet on Monday and Tuesday to discuss a sixth package of sanctions against Russia for its invasion of Ukraine, actions which Moscow calls a "special military operation".