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Oil prices rose on Tuesday, recouping some of their losses on Monday as rising tension in Eastern Europe and the Middle East heightened fears of a supply shortage.
Brent crude futures rose $1.21, or 1.5 percent, to $87.52 a barrel by 0946 GMT, after falling 1.8 percent in the previous session.
US West Texas Intermediate crude futures rose $1.11, or 1.3 percent, to $85.42 a barrel, after falling 2.2 percent on Monday.
Oil prices rose to their highest levels in seven years last week and are about to post a monthly increase of 12 percent.
Ahead of the US Federal Reserve’s expected interest rate decision on Wednesday that could affect oil prices if a rate hike is announced, crude prices were supported by geopolitical risks surrounding major oil and gas producer Russia.
NATO said on Monday that the alliance is putting its forces on alert and beefing up its deployment in eastern Europe with more ships and fighters, in response to the growing Russian military buildup on the Ukrainian border.
