Oil Prices Jump Amid Ongoing Middle East Supply Uncertainty

Oil prices surged more than 1% in early Asian trading on Monday as concerns over potential disruptions to energy supplies from the Middle East continued to support the market.

Brent crude futures rose by $1.82, or 1.74%, to hit a price of $106.14 per barrel, while US West Texas Intermediate (WTI) crude futures gained $1.14, or 1.23%, to reach $93.55 per barrel.

The oil markets have remained volatile in recent sessions amid ongoing uncertainty over energy supplies from the Middle East.