Oil jumps above 107 dollars as Iran holds enriched uranium

Oil prices extended their gains during trading, with Brent crude rising by more than 2% to surpass the level of 107 dollars per barrel, recording its highest level in the session, following a "Reuters" report stating Iran's desire to keep enriched uranium inside its territory.

The rise in oil comes amid escalating geopolitical tensions and market fears over the failure of any understandings that might contribute to calming the conflict and reducing risks threatening global energy supplies.