AI Summary

Oil prices jumped more than 3% in early Asian trade on Monday as renewed attacks in the Middle East raised fears of a major, prolonged supply disruption. The surge was amplified by the postponement of a “crunch” meeting between Gulf states and Iran, which had been expected to address regional tensions. By the time of the report, the initial gains had eased slightly, with both major benchmarks retreating; WTI futures were trading at $102.2 a barrel.

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