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Singapore, March 30 (QNA) – Oil prices extended gains on Monday, with Brent headed for a record monthly rise, amid escalating military tensions in the Middle East.
Brent crude futures jumped $2.43, or 2.16%, to $115 a barrel after settling 4.2% higher on Friday.
US West Texas Intermediate (WTI) crude also rose to $101.50 a barrel, up $1.86, or 1.87%, after climbing 5.5% in the previous session.
Brent has soared 59% during March, the steepest monthly jump, exceeding gains, amid disruptions to supplies through the Strait of Hormuz, a conduit for a fifth of the world’s oil and gas supplies. (QNA)
