Doha: Oil prices jumped 3 percent on Monday, with Brent crude futures rising USD 2.48, or 3 percent, to USD 86.03 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained USD 2.43, or 3.1 percent, to USD 80.61 a barrel.
According to Qatar News Agency, both benchmarks experienced a decline of more than 7 percent last week. The recent increase in oil prices marks a significant rebound following last week's downturn. This shift in pricing highlights the volatility present in the oil markets, affected by various geopolitical and economic factors.