Brent heads for record monthly jump as Iran conflict widens

Oil prices extended gains on Monday, with Brent headed ‌for a record monthly rise, after Yemeni Houthis launched their first attacks on Israel over the weekend, widening the US-Israel war with Iran in the Middle East. Brent crude futures jumped $3.09, or 2.74%, to $115.66 a barrel ​by 2353 GMT after settling 4.2% higher on Friday. US West Texas Intermediate was at $102.56 ​a barrel, up $2.92, or 2.93%, following a 5.5% gain in the previous ⁠session. US and Iraq to ‘intensify cooperation’ against attacks Brent has soared 59% this month, the steepest monthly jump, exceeding gains seen during the 1990 ​Gulf War, after the Iran conflict effectively closed the Strait of Hormuz, a conduit for a ​fifth of the world’s oil and gas supplies.