India, Aug. 31 -- Oil prices jumped more than 3.5% on Monday as fresh military strikes between the US and Iran raised fears that the conflict could disrupt global oil supplies. The conflict has now entered its sixth month. Brent crude prices rose $3.15, or 3.58%, to $91.25 a barrel at 0903 GMT on Monday. US West Texas Intermediate (WTI) crude also climbed $2.96, or 3.55%, to $86.36 a barrel.

The latest rise came after US forces attacked Iran's Larak Island in the Strait of Hormuz on Sunday. The US military struck two Iranian launchers on the island, according to Reuters, citing a US official. The Larak Island attack was the first known US strike on Iran since late July, adding to concerns that military tensions between the two countries ...