International oil prices rose more than four percent early Monday as the Palestine-Israel conflict sparked concerns about disrupted crude supplies. Chinese experts said that it will lift domestic oil prices momentarily as oil supplies remain relatively sufficient.
The global benchmark Brent crude oil futures price rose 4.07 percent to $88.02 a barrel, while US WTI crude oil futures rose 4.25 percent to $86.31 a barrel.
Oil prices have soared as the sudden flare-up of Palestine-Israel conflict threatens to heighten tensions in the Middle East. The Middle East is home to nearly one-third of the world's oil supply.