Oil futures rose overning after US strikes on Iran's three main nuclear sites intensified fears of a potential supply shock, amid the threat that Tehran could retaliate by closing a key maritime chokepoint.
Brent crude, the international benchmark, gained as much as 5.7 per cent before paring gains to trade near US$79 per barrel.
West Texas Intermediate futures also jumped more than two per cent to trade north of $75 per barrel.
Oil prices had already posted weekly gains on Friday following the outbreak of conflict between Israel and Iran more than a week ago.
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