Oil jumps more than 3% on Red Sea tanker attack, reroutings

LONDON -Oil extended gains on Monday to rise more than 3 percent as mounting attacks by the Iran-aligned Yemeni Houthi militant group on ships in the Red Sea disrupted maritime trade and raised concern of supply disruption. A Norwegian-owned vessel was attacked in the Red Sea on Monday and oil major BP said it has temporarily paused all transits through the body of water. Other shipping firms said over the weekend that they would avoid the route. Brent crude futures were up $2.82, or 3.7 percent, to $79.37 a barrel by 1454 GMT, while U.S. West Texas Intermediate crude rose $2.44, or 3.4 percent, to $73.87. Both crude benchmarks posted small gains last week, following seven w...

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