Oil prices climb 3% after Iranian missile strikes on Israel

Oil prices rose more than three percent on Monday when markets reopened after the weekend, reflecting renewed concerns over Iran's first attack on Israel since an April 8 ceasefire.

In early trading, the price of Brent crude, the international benchmark, climbed 3.29 percent to $96.15 a barrel.

Its US equivalent, West Texas Intermediate (WTI), rose 3.25 percent to $93.48 a barrel.

Tehran fired several missiles at Israel on Sunday, which Israel claimed to have intercepted. The strikes put new strain on a fragile ceasefire on the 100th day of the war in the Middle East.