WTI crude oil price jumps more than 30% on Mideast War

The price of the main US benchmark for oil surged more than 30 percent on Monday over concerns that the Middle East war could create prolonged supply disruptions.

At 0230 GMT West Texas Intermediate (WTI) was up 30.04 percent at $118.21 per barrel, before easing slightly, while Brent Crude was 27.54 percent higher at $118.22.