Doha: Oil prices extended gains on Monday, with Brent headed for a record monthly rise, amid escalating military tensions in the Middle East. Brent crude futures jumped $2.43, or 2.16%, to $115 a barrel after settling 4.2% higher on Friday.

According to Qatar News Agency, US West Texas Intermediate (WTI) crude also rose to $101.50 a barrel, up $1.86, or 1.87%, after climbing 5.5% in the previous session. Brent has soared 59% during March, marking the steepest monthly jump, exceeding gains amid disruptions to supplies through the Strait of Hormuz, a conduit for a fifth of the world’s oil and gas supplies.