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Ammon News - Oil prices rose for a second consecutive session on Monday, with concerns escalating over potential supply disruptions in the Middle East.

Brent crude futures for November delivery gained $1.12, up 1.56% to $73.10 a barrel as of 0611 GMT. That contract expires on Monday, and the more-active contract for December delivery climbed $1.04, or 1.45%, to $72.58.

U.S. West Texas Intermediate crude futures advanced 93 cents, or 1.36%, to $69.11 a barrel.

Prices also rose last Friday, though for the week, Brent fell around 3% and WTI fell by around 5% on worries about demand in China, despite fiscal stimulus measures in the world's second-biggest economy and top oil importer.

On Monday, prices were supported by the possibility that a widening Middle East conflict may directly involve Iran, a key producer and member of the Organization of the Petroleum Exporting Countries (OPEC), after Israel escalated attacks on the Hezbollah and Houthi militant groups that Iran backs.

While excessive supplies are a key concern for oil markets, investors broadly fear a region-wide conflict in the Middle East could affect supplies from key producing areas, said Priyanka Sachdeva, senior market analyst at Phillip Nova.

Reuters