Brent oil rises 3 percent amid Gulf conflict concerns

Brent crude oil prices climbed 3% on Monday, remaining on track for a record monthly gain as global stock markets struggled to find direction. Investors are increasingly concerned that a deepening conflict in the Gulf could lead to a significant spike in inflation and heighten the risk of a global recession. Equity markets across Asia saw sharp declines, with the Nikkei index in Japan closing 2.8% lower, reflecting the region's heavy reliance on oil exports from the Middle East. While European markets showed some firmness in early trading and futures in the United States signaled slim gains, the overall sentiment remained cautious.