Oil Surges 3% as Middle East Attacks Persist, Iran-Gulf Talks Delayed

Oil prices jumped over 3% in early Asian trade on Monday, with WTI at $102.2 and Brent at $106.8, as continued Houthi attacks on Saudi targets and the postponement of Gulf-Iran talks heighten supply disruption fears. The pullback from initial highs suggests market uncertainty over the extent of escalation. This development underscores persistent geopolitical risk premium in oil markets.