Crude oil prices are higher Monday morning, supported by mounting tensions in Ukraine and possibilities of further sanctions on Russia from the U.S. and the European Union.
Concerns over a possible disruption in supplies from Russia contributed as well to oil's rise.
Crude futures for June are up $0.69 or 0.69 percent at $101.30 a barrel
On Friday, crude oil futures ended sharply lower at $100.60, losing $1.34 or 1.3 percent. For the week, oil lost about 3.6 percent.
Natural Gas for June is up $0.028 or 0.59 percent at $4.686 per million btu.
In economic news, the U.S. pending home sales data for March from the National Association of Realtors will be out at 10 am ET. Economists estimate pending home sales to have risen by 0.6 percent month-over-month.
Investors will be looking ahead to the outcome of the 2-day FOMC meeting that begins on Tuesday.
The U.S. non-farm payrolls report for April, the Conference Board's consumer confidence index for April, advance estimate for first quarter GDP and the Commerce Department's personal income and spending report for March will be eyed this week.
Also due for release during the week are the results of the Institute for Supply Management's manufacturing index for April and the results of a regional manufacturing survey by MNI Indicators, auto sales for April and the jobless claims report. Additionally, the final estimate of Markit's U.S. manufacturing survey for March will also be eyed.
