LONDON—Oil prices surged more than 2 percent on Monday as military clashes between Israel and the Palestinian terrorist group Hamas ignited fears of a wider conflict in the Middle East.
Brent crude was up $2.28, or 2.7 percent, to $86.86 a barrel by 0859 GMT, while U.S. West Texas Intermediate crude was at $85.23 a barrel, up $2.44 or nearly 3 percent. Both benchmarks spiked by more than $4 a barrel earlier in the session.
