Oil prices rose sharply on Monday morning as investors continue to assess the situation in the Middle East.

On the ICE Futures exchange in London, Brent crude futures for June rose by $6.92, or 7.27%, to $102.12 per barrel. On Friday, Brent had fallen by $0.72, or 0.75%, to $95.20 per barrel.

At this time, the price of May WTI futures on the New York Mercantile Exchange (NYMEX) had risen by $8.16, or 8.45%, to $104.73 per barrel. In the previous session, they had fallen by $1.30 (1.33%) to $96.57 per barrel.