Oil prices rose sharply on Monday, pushing Brent crude above $107 a barrel as escalating tensions in the Middle East stoked fears of disruptions to global energy supplies.

Oil prices have surged to their highest levels since May as widening Middle East hostilities intensify fears of prolonged supply disruptions.

Oil prices rose further above $100 a barrel on Sept. 11 as attacks on shipping in the Middle East raised concerns about prolonged supply disruptions.