Crude oil prices increased by more than 2 percent in the global market.

Concerns about oil supplies have increased due to the closure of a key oil pipeline in Saudi Arabia and incidents of targeting ships, including attacks by the Houthis in the region.

Brent crude rose $2.90, or 2.77 percent, to $107.51 a barrel, while West Texas Intermediate rose $2.27, or 2.27 percent, to $102.32 a barrel.

Crude oil prices were recorded at over 3 percent at the start of trading.

Global crude oil prices rose 8 percent last week, surpassing $100 a barrel for the first time since July.