Oil prices posted their largest one-day gain in more than six years on Monday as renewed conflict in the Middle East and fresh US action against Iranian shipping prompted hedge funds and energy traders to reassess the likelihood of a prolonged disruption to global crude supplies, according to a report by the Wall Street Journal.
Brent crude rose 9.6% to settle at $83.30 a barrel, marking its biggest daily percentage gain since May 2020, while US West Texas Intermediate (WTI) climbed 9.4% to $78....
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