BEIJING  -Oil prices jumped more than $4 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend deepened political uncertainty across the Middle East. Brent crude rose $4.18, or 4.94 percent, to $88.76 a barrel by 0120 GMT, while U.S. West Texas Intermediate crude was at $87.02 a barrel, up $4.23, or 5.11 percent. The surge in oil prices reversed last week's downward trend – the largest weekly decline since March – in which Brent fell about 11 percent and WTI retreated more than 8 percent amid concerns about high interest rates and their impact on global demand.

https://business.inquirer.net/425605/oil-prices-jump-more-than-4-as-middle-east-violence-rattles-markets

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