The gain came as traders priced in fresh risk to global supply amid the threat from US President Donald Trump to widen the conflict in Iran.
The benchmark oil contract rose to the 115-dollar a barrel range before easing back. It traded around 113-dollars on Thursday. The market was closed Friday for a holiday.
Market focus is on any signs of de-escalation talks between the two sides ahead of Trump’s deadline to potentially attack Iran’s energy infrastructure.
The surge in crude oil prices since the hostilities began is also raising concerns about escalating global inflation.
This is pushing Japanese government bond yields higher.
The benchmark 10-year bond yield touched 2.41 percent on Monday, or the highest in 27 years.
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