Oil prices climbed more than $2 a barrel on Monday after news that crude production at Norway's Johan Sverdrup oilfield had been halted, which added to earlier gains stemming from escalation of the Russia-Ukraine war.

The U.S. dollar was also up on Tuesday at nearly its highest level in a year, while another persistent oil production outage at the Tengiz oilfield in Kazakhstan has resulted in a 30% decline in production for the field while repairs are completed.