SINGAPORE: Oil prices came off earlier highs on Monday but were still up more than 15% at levels not seen since mid-2022 as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding U.S.-Israeli war with Iran.
Brent crude futures were up $15.51, or 16.7%, at $108.20 per barrel at 0642 GMT - on track for the biggest-ever jump in a single day, while U.S. West Texas Intermediate (WTI) crude futures were up $14.23, or 15.7%, at $105.13.
