Oil prices climbed on Monday ‌on continuing fears of supply losses because of shipping disruptions in the key Middle East producing region from the US-Israeli war with Iran.

Brent crude futures rose USD 1.71, or 1.6 per cent, to USD 110.74 a barrel by 0057 GMT. US West Texas Intermediate crude futures gained USD 0.71, or 0.6 per cent, to trade at USD 112.25 per barrel.

On Thursday, the last trading day before the Good Friday holiday break, WTI ​settled up more than 11 per cent and Brent soared nearly 8 per cent in volatile trading, recording ⁠their biggest absolute price increase since 2020, as US President Donald Trump promised to continue attacks on ​Iran.