, LONDON (Reuters) -Oil prices extended gains on Thursday on supply concerns after the European Union laid out plans for new sanctions against Russia, including an embargo on crude in six months, offsetting concerns over weaker Chinese demand.

The Russian rouble briefly reached its highest level against the U.S. dollar since March 2020 on Thursday, supported by capital controls, while stock indexes also climbed as the market watched developments around possible new sanctions against Moscow.

With more U.S. travelers expected to take to the skies and the roads this summer as COVID restrictions ease, unbridled demand will strain capacity in the leisure and travel industry and push prices even higher.

Oil prices extended gains on Thursday on supply concerns after the European Union laid out plans for new sanctions against Russia, including an embargo on crude in six months, offsetting concerns over weaker Chinese demand.

The president of Chinese ride-hailing giant Didi Chuxing and her father, the founder of Lenovo, have ended their public presence on China's main social media site, the latest Chinese tech leaders to retreat from the spotlight.

Revenue for carmaker Stellantis rose 12% in the first three months of the year, beating market expectations as strong pricing and the type of vehicles sold helped offset the impact of the semiconductor shortage on volumes.