Oil prices rose in early Asian trading on Monday after Israel and Iran exchanged fresh attacks, raising concerns that the escalating fighting could lead to a wider regional conflict and significantly disrupt Middle East oil exports.
Brent crude futures rose $1.70, or 2.3 percent, to $75.93 a barrel, while U.S. West Texas Intermediate crude rose $1.62, or 2.2 percent, to $74.60. Both contracts had risen more than $4 earlier in the session. Both benchmarks jumped 7 percent at settlement on Friday after rising more than 13 percent during the session to reach their highest levels since January.
Source (Al Arabiya.net Website, Edited)
