Brent crude oil prices jumped more than $3 per barrel on Monday after renewed Israeli strikes in Lebanon and reports of explosions in several Iranian cities raised fears of wider conflict.

Brent futures rose about 3.4% to $96.24, while U.S. crude also climbed more than 3%, reversing losses from the previous session.

The gains came amid heightened tensions in the U.S.–Iran conflict and concerns about potential disruptions to oil flows through the Strait of Hormuz, a key global shipping route.

Despite the escalation, President Donald Trump said a deal to end the conflict was still achievable and urged restraint on further Israeli strikes, Reuters has reported.

Analysts noted that ongoing instability and supply risks continue to support higher oil prices even as OPEC+ increases production targets.