Oil prices are rising on Monday amid the ongoing Russia-Ukraine conflict, as well as rising tensions in the Middle East and the situation in China, where another spike in the incidence of COVID-19 was noted.

Saudi Arabia said on Sunday that Yemeni Houthis struck several sites in the country, including a fuel depot of oil company Saudi Aramco in Jizan, as well as a gas processing facility in Yanbu.

The cost of May futures for Brent crude oil on London’s ICE Futures exchange by 8:15 Moscow time on Monday is $111.34 per barrel, up $3.41 (3.16%) from the previous session’s closing price. At the end of trading on Friday, these contracts rose by $1.29 (1.2%) to $107.93 per barrel.

The price of WTI crude oil futures for April at the electronic trading of the New York Mercantile Exchange (NYMEX) is at this time $108.15 per barrel, which is $3.45 (3.3%) above the closing price of the previous session. On Friday, the value of these contracts increased by $1.72 (1.7%) to $104.7 per barrel.

Both Brent and WTI prices jumped more than 10% over Thursday-Friday, but ended last week down 4.2%.