New York: Global crude oil prices rose by more than 3% at the start of the new trading week as fresh Houthi attacks in Saudi Arabia, attacks on vessels in the Gulf and the closure of a key Saudi oil pipeline intensified concerns over global oil supplies.
Brent crude futures rose by $3.21, or 3.1%, to $107.82 per barrel during trading. Meanwhile, US West Texas Intermediate (WTI) crude futures gained $3.17, or 3.2%, to reach $103.22 per barrel.
Oil prices had already surged by around 8% last week amid disruptions to global supplies, pushing crude above the $100-per-barrel mark. It was the first time since July that oil prices had climbed above $100 per barrel.
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