Middle East Tensions Spark Surge in Oil Prices
Oil prices surged on Monday as tensions in the Middle East persisted following US President Donald Trump's rejection of a peace proposal aimed at resolving the conflict with Iran.
Brent crude futures rose by $3.43, or 3.29%, to reach $107.75 per barrel during trading session on Monday.
US West Texas Intermediate (WTI) crude also gained ground, increasing by $2.14, or 2.32%, to $94.55 per barrel.