Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports. Brent crude rose $4.16, or 4.3%, to $102.09, at 0915 after hitting a high of $105.07 a barrel in early trade. The Brent contract, for April delivery, expires on Monday. The most active contract, for May delivery, was up $4.16 at $98.28. U.S. West Texas Intermediate (WTI) crude was up $4.19, or 4.6%, at $95.78 a barrel after hitting $99.10 in early trade. “Moves by the U.S. and Europe to remove certain Russian banks from the SWIFT system have raised fears of a disruption to […]