Oil nudges up as investors eye Mideast conflict

Oil prices edged up on Monday as traders watched for supply disruption risks in the Middle East following strikes by U.S. and British forces to stop Houthi militia in Yemen from attacking ships in the Red Sea.

Brent crude futures were up 24 cents, or 0.3%, to $78.53 a barrel by 0737 GMT after settling 1.1% higher on Friday. U.S. West Texas Intermediate crude was at $72.85 a barrel, up 17 cents, or 0.2%, following a near 1% gain in the previous session.

The benchmarks jumped more than 2% last week to touch their highest intraday levels this year after U.S. and British forces launched dozens of air strikes against Houthi forces in retaliation for months of attacks on Red Sea shipping that the Iran-backed fighters cast as a response to war in Gaza.

Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.

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