Oil prices jump 3% amid fears of Middle East supply disruption

Oil prices jumped $3 a barrel on Friday amid reports amid concerns about possible disruption to oil supplies in the Middle East.

According to Reuters, by 0200 GMT, Brent crude futures rose $2.63, or 3%, to $89.74 per barrel. The most active US West Texas Intermediate crude contract jumped $2.56, or 3.1%, to $84.66 per barrel.