Oil Prices Rise 3% on Middle East Escalation Fears

Oil prices rose about 3% Monday on fears that escalation in the Middle East could disrupt oil supplies from the region. Brent crude futures rose $2.30, or 2.91%, to $81.32 a barrel, while US crude futures rose $2.22, or 2.97%, to $77.05 a barrel. Brent reached $81.35 a barrel during today's trading session, its highest level in 11 days. Source: Qatar News Agency