Global oil prices have jumped more than 10% since last week.

Brent crude futures advanced $3.34, or 4.38%, to $79.5 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $3.07, or 4.30%, to $74.20 a barrel. The latest rally comes…

The oil market entered another volatile week after renewed tensions between the United States and Iran threatened an already fragile truce.