Oil prices fell on Monday, as the latest European sanctions on Russian oil are expected to have minimal impact on supplies, while U.S. tariffs stoked demand concerns. Brent crude futures dropped 26 cents,

This is a strong step in the right direction but the goal is to shut down oil and gas purchases from Russia until Putin gets to the peace table,' says Lindsey Graham - Anadolu Ajansı

Last week, the European Union announced its 18th sanctions package against Russia, something that could have an impact on the oil industry both abroad and in the Lone Star State.