Oil prices were up more than $3 a barrel in Asian trade on Monday as military clashes between Israel and the Palestinian Islamist group Hamas deepened political uncertainty across the Middle East and raised concerns about supplies.
Brent crude rose $3.10, or 3.67%, to $87.68 a barrel by 0400 GMT, while U.S. West Texas Intermediate crude was at $86.05 a barrel, up $3.26, or 3.94%. Both benchmarks had jumped more than $4 a barrel earlier, before easing slightly.
Source: National Iraqi News Agency