Oil prices jumped more than 2% on Monday after new Houthi strikes on Saudi Arabia and Iranian attacks on ships in the Gulf compounded supply concerns following the closure of a key Saudi oil pipeline.
Brent crude futures rose 2.77% to $107.51 per barrel, while WTI futures climbed 2.27% to $102.32 per barrel. Oil prices had initially risen more than 3% at market open.
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