Oil Jumps More Than $3 on Supply Concerns

An oil pump of IPC Petroleum France is seen at sunset outside Soudron, near Reims, France, on Aug. 24, 2022. Pascal Rossignol/Reuters

LONDON—Oil prices jumped by more than $3  on supply concerns on Monday.

Brent crude futures rebounded $3.37, or 4 percent, to $88.51 a barrel by 1100 GMT. U.S. West Texas Intermediate crude was up 4.1 percent, or $3.29, at $82.78.