Oil prices jump 3% as US-Iran conflict intensifies, Brent crude tops $90 per barrel

Oil prices rallied on Monday after conflict between the United States and Iran intensified, raising fresh concerns over crude supplies from the Middle East as shipping through the Strait of Hormuz came under increasing pressure.Brent crude climbed above $90 a barrel, rising 2.30% to $90.13, while US benchmark WTI crude gained 2.07% to $84.20. The move extended last week's sharp rally, when Brent surged 15.9%, its biggest weekly gain since April and WTI rose 15.5%, its strongest weekly advance since early March.The latest gains followed another night of US military action against Iran. The US launched strikes for the ninth consecutive night, while Iran continued attacks across the region, with Bahrain and Kuwait reporting fresh missile and drone strikes.The growing hostilities have also disrupted movement through the Strait of Hormuz, a key maritime route that normally carries around one-fifth of global oil trade.