Reading Time: 3 minutesOil prices gained in Asian trade on Monday supported by geopolitical tension in Europe and the Middle East, although the prospect of more oil supply and concern about the impact of trade tariffs on global fuel demand weighed. The October WTI contract expires on Monday and the more active November contract gained 36 cents, or 0.58%, at $62.76 a barrel. In recent weeks, Ukraine stepped up drone attacks on Russia’s energy infrastructure, hitting terminals and refineries, while U.S. President Donald Trump has urged the European Union to halt Russian oil and gas purchases. Iraq has increased oil exports following the gradual unwinding of voluntary production cuts under an OPEC+ agreement, the country’s state oil marketer SOMO said on Sunday. Iraq’s oil exports averaged 3.38 million barrels per day in August, according to the oil ministry.