Oil futures were up strongly Monday, with Brent crude on track for its first finish above $80 a barrel since August, as investors assess the potential hit to supply from a further tightening of sanctions on Russia’s oil sector.

The size and scope of new U.S. sanctions on Russia sent oil prices spiking on Monday, and both Brent and WTI have retained most of those gains.

Oil surpassed $80 a barrel as traders digested a report that Indian oil processors are bracing for new US sanctions that would hit flows from Russia.